Amway Corp. of Ada, Mich. is creating an Internet sales network that could become a powerful distribution channel for its revamped mutual fund business.

In June, Amway sought to broaden its mutual fund product offerings and filed with the SEC to create four new funds. This was done to supplant its sole fund product, the Amway Mutual Fund, a value fund that has quietly gathered $225 million in assets under management since 1970.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.