Branching into the retail retirement services business, American General Financial Group is creating a family of 23 mutual funds called the American General Fund Group.

Until now, American General, of Houston, has not sold mutual funds. Its presence in the investment business has been confined to selling variable annuity contracts through 401(k) and 403(b) plans and selling fixed annuities through banks. The variable annuities have been sold through The Variable Annuity Life Insurance Co. (VALIC) and the fixed annuities through the American General Annuity Insurance Co. Both companies are American General subsidiaries.

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