Aetna Targets Private Investors With New Mutual Funds
HARTFORD, Conn. (AP) _ Aetna Life & Casualty announced Wednesday it is offering private investors five mutual funds without sales charges.
The no-load funds mark the first time Aetna has offered mutual funds to individual investors and 401(k) plans, the insurer said.
″We’re looking at it as an expanding market,″ said Aetna spokesman Sal Foti. ″It’s a large market out there.″
Aetna, which has been selling mutual funds to large corporations for more than 20 years, officially began offering the new funds to private investors about two months ago, Foti said.
The funds’ miminum initial investment is $1,000, the insurer said.