In the past year, American Expresss AXP fund line has gone through a largely silent evolution that will continue into the new year, with plans calling for product expansion and additional investment professionals. The evolution has been paralleled by the development of the Partners Funds, a line of sub-advised funds.
Last January, when Andrew Washburn joined the firm as VP, director of marketing for American Express Funds, he brought with him a "product line rationalization," he said. "What were trying to do is create more discipline around the management of these funds. Were trying to get them to be differentiated within their categories from each other and from our competitors and were trying to make sure that these funds are managed to style-specific benchmarks," Washburn said. The funds now have tighter risk controls and clearer marketing positions to help advisers match products with clients, he said.