Short Takes: SouthTrust Adding Two Funds in August

SouthTrust Corp. of Birmingham, Ala., plans to launch two mutual funds in August.

The $39 billion-asset banking company will add a large-capitalization growth fund and an Alabama tax-free fund, said Richard S. White Jr., the executive vice president of SouthTrust's capital management group.

Mr. White said SouthTrust is adding the funds to give customers greater flexibility. The SouthTrust Funds have four portfolios-a value fund, a Treasury money market fund, an income fund, and a bond fund. The fund family had $1.25 billion of assets under management as of March 31.