American Express Launches New Mutual Fund; AXP Large Cap Value Fund Available Today.Business Editors American Express Financial Corporation, a unit of American Express Company (NYSE NYSE See: New York Stock Exchange :AXP The brand name Digital gave to its first family of Alpha-based computers. In 1998, Digital was acquired by Compaq. See Alpha. ), has launched a new mutual fund, the AXP(R) Large Cap Value Fund. The fund will be managed by Bob Ewing and will be available through American Express financial advisors, American Express Brokerage and select American Express retirement plans. Ewing also manages AXP(R) VP - Managed and the equity portion of AXP(R) Mutual. AXP Large Cap Value will conduct fundamental research to identify attractively priced securities in any sector, and will be benchmarked to the Russell 1000 Value Index. The fund will be broadly diversified in terms of sector exposure, and will hold between 100 and 200 stocks. "AXP Large Cap Value adds further depth to our value fund offerings," said Paula Meyer, Senior Vice President and General Manager, Mutual Funds, at American Express. "This fund provides us with another unique product in the large-cap value space and enhances our clients' diversification options." American Express Funds is a family of 59 retail mutual funds with more than $74 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . The funds provide investors with a wide spectrum of investment options, including growth, growth and income, income, international, tax-free income tax-free income The income received but not subject to income taxes. For example, interest from most municipal bonds is free of federal income taxes and often from state and local income taxes as well. Compare tax-deferred income, tax-sheltered income. and index choices. American Express Funds can trace its history back to 1940. Today, with offices in Minneapolis, Boston, Tokyo, Singapore and London, American Express Financial Corporation, the investment manager for American Express Funds, owns, manages or administers more than $217 billion in assets. American Express Company is a diversified worldwide travel, financial and network services company founded in 1850. It is a world leader in charge and credit cards, Travelers Cheques, travel, financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against , business services, insurance and international banking. For more complete information on mutual funds, including fees and expenses, call (800) AXP-FUND for a prospectus. Read it carefully before you invest or send money. American Express Financial Advisors Inc. Member NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). and SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. . American Express Company is separate from American Express Financial Advisors Inc. and is not a broker dealer. |
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