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Fund Times

Fund Times: New Funds from American, Oakmark, Masters'

Plus, Delaware Funds president resigns, Masters' Smaller Companies reopens, more.

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American Funds has filed to launch its first new mutual fund of the decade. The firm plans to launch Short-Term Bond Fund of America on Oct. 1, 2006, according to a filing with the SEC. The fund fills the gap between the firm's Intermediate Bond Fund of America (AIBAX) and money market funds.

The firm's last mutual fund launch was American Funds New World (NEWFX), which debuted in 1999.

Russel Kinnel has a position in the following securities mentioned above: NEWFX. Find out about Morningstar’s editorial policies.