American Express said in a media release that it would make available the Preferred Large Cap Growth Fund (PFGRX) from The Preferred Group of Mutual Funds. The fund is subadvised by Jennison Associates LLC.
The new fund is part of American Express Retirement Services’ SmartPartners Platinum program.
The Preferred Large Cap Growth Fund’s objective is to invest a majority of its assets in large capitalization companies believed to offer the potential for capital appreciation. These include stocks of companies the managers believe will experience above-average earnings growth.
The Preferred Large Cap Growth Fund is managed by Kathleen McCarragher, executive vice president of Jennison. McCarragher assumed management of the Preferred Large Cap Growth Fund in April 1999.