American Express Financial Corporation is rolling out two new equity mutual funds, a spokesperson with the firm told the MutualFundWire.com. The fund will be available through the following channels: American Express advisors, retirement plans, and brokerage.

The two new funds are:

• The AXP Partners Selected Value Fund -- this is a multi-cap equity fund. It will be subadvised by Gabelli Asset Management.
• The AXP Partners Small Cap Core Fund -- this is a small-cap core fund. It will be co-subadvised by both Pilgrim Baxter Value Investors and Wellington Management Company.

"These are the 7th and 8th funds to be added to the sub-advised product line with the American Express funds family," the spokesperson reported. "We are continuing to broaden our product line-up. Later this month, we will be launching the AXP Large Cap Equity Fund. This is an internally managed fund."

The spokesperson also stated that the firm will be rolling out additional funds -- both internally managed and subadvised -- throughout the year.

He noted that American Express is continuing to build its new Boston office and to expect more hires for that location in the months to come. 

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