AMR Corp. of Fort Worth, Texas, the parent company of American Airlines, is considering giving flight to its entire investment management unit, including its proprietary mutual fund unit.

The company has hired Salomon Smith Barney of New York to determine the value of its American Investment Services division, which manages a total of $27 billion. Those assets include $5 billion that the unit manages for large institutional clients such as credit unions and endowments, and $9 billion managed within its proprietary group of 15 American AAdvantage Funds.

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