USAA Investments Launches Four New Funds

USAA Investments shuttered its (USAUX Quote)Aggressive Growth fund Friday, but launched a new fund with the same managers on Monday, as well as three stock index funds.

The $2.2 billion mid-cap growth fund shut its doors to new investors at the close of business last Friday, according to a Monday company announcement. The firm also trumpeted the roll out of the no-load USAA Capital Growth fund, which has Aggressive Growth fund managers John Cabell and Eric Efron at the helm and three no-load index funds that will track the Wilshire 4500, Nasdaq 100, and the Dow Jones Global Titans indices.

The Capital Growth fund can invest in companies of any size, but will probably lean toward small- and mid-cap fare. In choosing stocks for the portfolio Cabell and Efron will be looking for high earnings growth. The fund's 1.39% annual expense ratio is lower than the average mid-cap growth fund's 1.56%, according to Morningstar. ...