American Express Financial Advisors of Minneapolis, Minn. is merging 15 of its no-load mutual funds into corresponding funds that carry up to five percent sales charges and a 25 basis-point 12b-1 fee, according to David Kanihan, a company spokesperson.

The 15 funds that make up the Strategist fund family closed to new investors in October. The funds were launched in 1996 to open a direct, no-load sales channel, Kanihan said.

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