Even as fund companies try to clear up the cluttered fund playing field through rebranding, other fund companies are throwing more product into the market. So far this week new funds have been launched by American Express and Nationwide Financial. American Express also announced that it is adding Class "C" shares to the 47 funds in its family.

American Express Financial Corporation is offering three new funds. The AXP European Equity (managed by Gavin Corr and Claire Barnes) focuses on large-cap European stocks. The AXP Focus 20 (managed by Doug Guffy) is a blend of 20 to 50 mid- and large-cap growth stocks, and AXP Growth Dimensions (managed by Gordon Fines, Anne Obermeyer and Doug Guffy) focuses on fast-growing large companies while maintaining some mid-cap exposure.

"Coming on the heels of the new tech fund we launched in April, these three new funds continue to expand the level of choice we provide our clients," said Paula Meyer, Vice President and Managing Director, American Express Funds. "As we continue to expand third-party distribution of our mutual funds, choice becomes even more important."

Meanwhile, Nationwide Financial is adding fund options to several of its BEST of AMERICA variable annuities and variable life products.

The new offerings are the Morgan Stanley UIF Mid Cap Growth Portfolio (managed by Arden Armstrong, David Chu and Steven Chulik), which invests primarily in midcap stocks that demonstrate high earnings growth rates, growth stability, rising profitability or the ability to produce earnings that consistently beat market expectations. Strong Opportunity Fund, II (managed by Dick Weiss) which invests in under-researched, medium-sized companies and pursues a lower-volatility growth investment philosophy. And, Oppenheimer Global Securities Fund/VA, (managed by William Wilby) which employs a four theme-based (mass affluence, new technologies, restructuring and aging) approach to global investing. 

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