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Thursday, May 04, 2006

AARP Quick to Broaden Selection

by: Marie Glancy

When AARP Financial officially launched its initial three funds last week, a spokesperson said it was too early to talk about the possibility of adding more product offerings. That seems to have changed already: a company executive has elaborated on plans already underway for other products.

"We currently have filed a registration statement with the SEC for an AARP money market fund and we are considering a fixed income product," said Nancy Smith, vice president for investment services, in an interview with Reuters.

A sub-subsidiary of non-profit organization AARP, AARP Financial presently serves as the investment advisor to three lifestyle funds that became available to investors in January. State Street the sub-advisor to those three funds, would also carry out portfolio management on the money market fund. 

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