J.P. Morgan & Co. said it will manage three new international mutual funds for Deutsche Kapitalanlage Gesellschaft.

Deutsche Kapitalanlage, or Dekabank, is Germany's second-largest mutual fund company, with about $70 billion of funds under management.

Morgan will manage a real estate-related fund, a global bond fund, and a global equity fund. It said funds will be added later for emerging markets and specific industries.

Like many other global banks, Morgan has been rapidly expanding its international asset management, which now includes more than $215 billion of assets.

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