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E*TRADE Adds Mutual Funds

In a move to boost its offerings to customers, online broker E*TRADE Group Inc. Tuesday announced plans to offer mutual funds from Warburg Pincus Asset Management Inc.

The agreement calls for E*TRADE to offer its customers more than 30 no load Warburg Pincus Funds online without transaction fees. Financial terms were not disclosed.

"At Warburg Pincus, we've been keeping a close eye on the rapid growth of the online financial services sector and we're keenly aware of E*TRADE's prominence... " said Gene Podsiadlo, managing director at Warburg Pincus. "We think online investing will build quickly for mutual funds and will extend brands like ours around the world."

E*TRADE recently embarked on a strategy to become an investment portal by adding more investment research. The company also opened the site to the public and recently began a national advertising campaign.

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