The 50-and-over crowd will soon have new mutual funds to consider investing their hard-earned money in.

AARP of Washington, the not-for-profit organization that caters to mature individuals, has registered with the Securities and Exchange Commission to offer three new asset-allocation mutual funds that will invest in various combinations of three passive index portfolios. The funds will be sub-advised by State Street Global Advisors (SSgA) of Boston.

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