light bulbs have always been sold in supermarkets. Now, the same is true for their mutual funds. GE Funds are now available at Charles Schwab's
Mutual Fund OneSource.
"This is all part of GE's big push into consumer financial services," said Brendan Gundersen
, director of retail product development and marketing for GE Asset Management Services.
"For mutual funds, we're implementing a 'home and away' strategy," Gunderson continued. "The home part is sales through our Web site. The away part of the strategy has been sales through intermediaries, and now we're adding the Schwab supermarket."
GE is also targeting other parts of the "away" strategy. "We're enhancing the services for intermediaries" adds Gunderson. "In particular, we're spending big bucks on our Web services for them."
GE offers 21 equity and fixed income mutual funds, each managed by GE Asset Management, which currently manages over $120 billion in assets.
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