American Express Financial Corp. said today that it has launched two new mutual funds an equity product and a fixed-income product that it will distribute through its network of financial advisors.
In launching the funds, the company says it is responding to investors concerns after weathering a year of particularly dismal markets and gut-wrenching losses due to poor allocation of assets.
"If theres one thing 2001 taught investors, its that diversification can help your portfolio," said Paula Meyer, who is a managing director at American Express Funds.
The new funds, she said, are designed to help investors diversify their long-term investments by focusing on mid-cap value and mortgage-backed securities.
The two products have been labeled the AXP Mid Cap Value Fund and the AXP U.S. Government Mortgage Fund. They will be part of American Express Funds, a family of 55 retail products with about $80 billion in assets under management.
