A state known for dry but hot weather will soon be equipped with a new branch office from the country’s hottest mutual fund firm, Knight Ridder reports.

One day after Financial Research Corp. reported the company’s September fund sales were again tops in the nation, American Funds, announced it would open an operations office in Scottsdale, Ariz. The Los Angeles-based firm has already hired 50 local employees to work in a makeshift office in north Scottsdale, and by next year, it hopes to have 200 workers in Scottsdale.

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