AXP Funds Adds Three Funds
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Thursday, June 19, 2003

AXP Funds Adds Three Funds

American Express has tapped the expertise it raided from Zurich last year to add another three mutual funds to its lineup tailored for financial advisors. All three offerings are fixed income funds that will be distributed through its proprietary financial advisor, brokerage and retirement platforms.

The new funds bring the total number of retail American Express Funds to 64. Those funds hold more than $61 billion in assets. The funds are part of an effort to offer a full-spectrum of products within the American Express fund family, explained Paula R Meyer, senior vice president -- Mutual Funds and Certificates, American Express Financial Advisors.

"With Michelle Keeley joining American Express as head of fixed income last year and our efforts to build around new and existing investment talent, we have fully implemented a new organizational model within our fixed income group that leverages best practices across portfolios. These three new mutual funds take advantage of the new investment teams and further differentiate our taxable fixed income product line," said Meyer.

James Jackson is the leader of the team managing the new AXP Limited Duration Fund. Tom Murphy leads the team managing the AXP Core Bond Fund and Brian Lavin heads up the managers on the AXP Income Opportunities Fund.

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