GE Financial Assurance, the financial services arm of General Electric Co., is planning a major expansion of its retail mutual fund business.

The company plans to introduce 13 new funds, bringing the total number of funds in the GE Fund family to 25. The first new fund to be launched will be the GE Small-Cap Value Equity Fund, which will be managed by GE Investment Management and subadvised by Palisade Capital Management LLC.

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