American Express has launched three new value mutual funds. All three are sub-advised as part of the AXP Partners group.
Partners Value Fund, focusing on large-cap, is sub-advised by
Lord, Abbett and managed by
Robert G. Morris and
Eli M. Salzmann. The investment style tries to limit downside exposure.
Partners Fundamental Value Fund, also large-cap, purchases invests in growing firms at a discount price with the intention of long-term investing. The fund is sub-advised by Davis Selected Advisors and managed by
Christopher Davis and
Kenneth Feinberg.
Partners Small Cap Value Fund, which combines small- and micro-cap, is co-sub-advised by
EQSF Advisers (Third Avenue Funds) and
Royce & Associates.
Martin J. Whitman and
Curtis Jensen manage the Third Avenue half.
Charles M. Royce manages the Royce half.
Is American Express apprehensive about its relationship with Royce, considering that the firm is on the block?
"We aren't concerned," replied a spokesperson for the firm. "We're comfortable that the relationship is a strong one and that it wouldn't be affected."
American Express has taken its full lineup of value funds, including these new offerings on the road. Johnson said that its advisors have not expressed concern about Royce. 
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