American Express Financial Corporation has filed a registration statement with the SEC for new subadvised mutual funds. The firm expects those to launch during the first quarter of 2002.

The new funds are:

• AXP Partners Select Value Fund -- a multi-cap equity fund to be subadvised by Gabelli Asset Management. Mario Gabelli will serve as lead portfolio manager.
• AXP Partners Small Cap Core Fund -- a small cap equity fund to be subadvised by Pilgrim Baxter and Wellington Asset Management. The portfolio managers will be Jerome Heppelmann of Pilgrim Baxter and Kenneth Abrams of Wellington.

"These two new funds expand our strategy of offering a strong lineup of subadvised funds under the American Express Partners brand," contended Paula Meyer, vice president and managing director of American Express Funds. "We have enlisted some of the top talent in the industry to offer clients and advisors further access to world class asset managers in the multi cap value and small cap core disciplines." 

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