American Express launched the three new funds to provide further differentiation and diversification options within the American Express Funds fixed income product line, according to a news release. The new funds are:
- AXP Limited Duration Fund – invests in a blend of intermediate-term investment grade securities, including securities issued by the USGovernment, corporate securities, and mortgage- and asset-backedsecurities.
- AXP Core Bond Fund – invests in ablend of intermediate-term investment grade securitiesincluded in the Lehman Brothers Aggregate Bond Index.
- AXP Income Opportunities Fund – invests primarily in income-producing debt securities, preferred stocks and convertible securities, with an emphasis on the higher-rated segment of the high-yield market.
The funds are available through American Express financial advisors, American Express Brokerage and select American Express retirement plans.