American Express Financial Corporation launched eight new mutual fund products today.

Six new mutual funds make up the AXP Portfolio Builder Series, which provides investment options for investors at every life stage and risk tolerance level. Each Portfolio Builder fund will invest in the appropriate mix of American Express Funds, including partnership funds managed by sub-advisors for an added layer of diversification.

American Express' Capital Markets Committee will manage the Portfolio Builder Series. The Committee, chaired by David Joy, vice president of capital markets strategy, is made up senior investment and economic leaders at the company. It was created in late 2002 to provide a consistent market perspective that managers at the company could draw on in making investment decisions. The launch also includes a real estate mutual fund and an inflation protected securities mutual fund. The real estate fund, to be managed by senior securities analyst David Benz, will be diversified geographically and by property type. Jamie Jackson, leader of American Express' liquid assets sector team, will manage the inflation protected securities fund. Both the real estate and TIPS funds are the first of their kind for American Express Financial. The decision to launch them "really goes back to the fact that our financial advisors have been asking for these types of funds to help diversify their clients," said Kevin Olson, a spokesperson for American Express Financial Advisors. "Since we have the expertise, with Jamie Jackson and David Benz, it made sense for us to do this right now." The funds are available today. They will be distributed solely by American Express Financial Advisors.  

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