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AOL plans mutual fund center online

America Online plans to debut next month a mutual fund center that will let members order prospectuses and conduct transactions through the online service.

America Online plans to launch next month its AOL Mutual Fund Center with the help of Fidelity Investments, The Kaufmann Fund, Scudder Funds, Twentieth Century, and The Vanguard Group.

The Mutual Fund Center will enable AOL subscribers to order prospectuses and conduct transactions.

To ensure privacy for users buying mutual fund shares online, the service will use password protection and separate data storage provided by DST Systems.