On-Line Services Add Mutual Fund Trading

Mutual fund trading soon will be available on two of the nation’s biggest computer on-line services, officials said Friday.

America Online Inc., the nation’s biggest on-line service, and CompuServe plan to offer shareholders of participating fund companies an electronic avenue to open new accounts, check account balances, redeem shares and transfer money within a fund family.

The Vienna, Va.-based America Online announced plans for such a service in late January. USA Today reported Friday that fund transaction capabilities could begin as early as Monday.

“It’s on the way,” said AOL spokeswoman Tanya Mazarowski, but she declined to be more specific.

CompuServe spokeswoman Gail B. Whitcomb said the mutual fund transactions service will be available by late spring. Earlier this week, CompuServe announced an expansion of its personal financial services, including on-line banking and brokerage services.

At Prodigy Services Co., another large on-line provider, spokesman Brian Ek said mutual fund transaction “is an area that looks very attractive to us.”