American Express has added two new funds to its AXP Funds family. The new equity and fixed-income funds bring the number offered by the firm to 55. The funds were added to further diversify the firm's product line with a deep value product and a government mortgage fund.

"If there's one thing 2001 taught investors, it's that diversification can help your portfolio," said Paula R. Meyer, vice president and managing director - American Express Funds. "We will now offer large-, mid- and small-cap value funds as well as build on our strength in fixed income."

The funds will be sold through American Express financial advisors and American Express retirement services.

Warren Spitz is portfolio manager of the AXP Mid Cap Value Fund. Scott Kirby is portfolio manager of the AXP U.S. Government Mortgage Fund.  

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