State Farm Insurance of Bloomington, Ill. has announced that it is offering mutual funds nationally. The company started offering mutual funds in January, in a pilot program in Missouri, North Carolina, Kansas and Virginia.
The family of 10 funds includes three equity, three index, two bond, one money market and one balanced fund, according
to State Farm. State Farm Investment Management of Bloomington will manage the funds.
State Farm has been offering mutual funds to its employees and agents since 1968 but it is now offering mutual funds to its customers for the first time, the company said.
"Our customers have told us they want more financial services products from their agents," said Ed Rust Jr., CEO of State Farm. "We opened State Farm Bank more than a year ago and we see mutual funds as the next logical step in providing the kinds of products and services customers are requesting. Our goal is to serve our customers with one-stop financial services."
