Two Schwab Funds Take Top Lipper Honors for Ten-Year Performance
Schwab California Tax-Free Bond Fund Wins for Fourth Consecutive Year; Laudus International MarketMasters Fund, Investor Shares, is Best Fund in Category
Public Company Information:
SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab Investment Management, Inc. (CSIM), the asset management arm of The Charles Schwab Corporation (“Schwab”), announced today that two of its funds received industry accolades for best-in-class performance. The Schwab California Tax-Free Bond Fund™ (SWCAX) was named “Best California Intermediate Municipal Debt Fund over Ten Years” out of 21 qualified funds in the category, for the fourth consecutive year. Lipper also named the Laudus International MarketMasters Fund™, Investor Shares (SWOIX), “Best International Multi-Cap Growth Fund over Ten Years” out of 54 qualified funds in its category.
“It’s a real thrill to have two of our funds recognized for their long-term performance,” said Marie Chandoha, President and Chief Executive Officer of CSIM. “At Schwab we are passionate about offering high quality investment products across asset classes – and we’re excited that Lipper recognizes our commitment as well.”
Launched in 1992, the Schwab California Tax-Free Bond Fund (SWCAX) seeks high current income exempt from federal and California personal income tax that is consistent with capital preservation. The fund invests primarily in investment-grade municipal securities from California issuers. In addition, the fund does not currently intend to invest in securities whose income is subject to the federal alternative minimum tax (AMT). The fund had $398 million in assets under management as of December 31, 2011.
Launched in 1996, the Laudus International MarketMasters Fund, Investor Shares (SWOIX), seeks long-term capital appreciation. CSIM dynamically allocates portions of the fund’s assets to several investment managers, who manage their respective portions under CSIM’s general oversight. The fund’s six sub-advisors are currently American Century Investment Management, Inc., WHV Investment Management (formerly, Wentworth, Hauser, and Violich, Inc.), Harris Associates L.P., Mellon Capital Management Corp., William Blair & Company, LLC, and Mondrian Investment Partners Limited. In addition to monitoring and coordinating the investment managers, CSIM also manages the cash portion of the fund. The fund invests in equities securities of all market capitalizations primarily in developed markets outside of the United States. The Investor Shares class of the fund had $611 million in assets under management as of December 31, 2011.
The Lipper Fund Awards recognize funds that have excelled in delivering consistently strong risk-adjusted performance, relative to peers. Lipper, a Thomson Reuters company, uses the Lipper Leader for Consistent Return methodology to designate award-winning funds in most individual classifications for the three-, five-, and ten-year periods.
Marie A. Chandoha leads the portfolio management group as President and Chief Executive Officer of CSIM. Prior to joining Schwab in 2010, Marie was the global head of the fixed income business at BlackRock, formerly Barclays Global Investors. Before joining BGI in 2007, she was co-head and senior portfolio manager in charge of the Montgomery fixed income division at Wells Capital, a senior bond strategist at Goldman Sachs, and managing director responsible for the global fixed income research and economics department at Credit Suisse First Boston. Previously, Marie was a mortgage securities research analyst at Morgan Stanley and an economist at the Federal Reserve Bank of New York. She earned a Bachelor of Arts degree in economics from Harvard University.
Schwab California Tax-Free Bond Fund
Ken Salinger joined Schwab in March 2008 as a Managing Director and Portfolio Manager, leading the team responsible for daily trading and management of all national and state-specific tax-free bond funds. He is also responsible for overseeing the management of the Municipal Money Market Funds. Prior to joining Schwab, Ken was a Senior Portfolio Manager for Wells Capital Management, working on a team that managed over $5 billion in municipal bond assets. From 1992 until 2006, he was at American Century, where he was a Vice President and Senior Portfolio Manager with responsibility for daily management of a number of national and state specific municipal bond funds. Ken holds a Bachelor of Arts degree from the University of California at San Diego and has been a Chartered Financial Analyst since 1997.
John Shelton is a Portfolio Manager with CSIM and has day-to-day responsibility for the management of the Schwab Municipal Money and Municipal Bond Funds. John joined the Municipal Portfolio Management team in August of 2000. Prior to joining the Portfolio Management Team, he was an associate in Schwab’s management training program. John is a member of the CFA Institute, the California Society of Municipal Analysts and the Security Analysts of San Francisco. He received his B.A. in Finance and a Minor in Economics from Morehouse College, and also holds the CFA (Certified Financial Analyst) designation.
Laudus International MarketMasters Fund, Investor Shares
Omar Aguilar, Senior Vice President and Chief Investment Officer of Equities of CSIM, has managed the fund since May 20, 2011. Omar joined CSIM from Financial Engines, where he was responsible for managing more than $40 billion in assets from leading retirement plan sponsors in the defined contribution market. Prior to joining Financial Engines, Aguilar was the head of Quantitative Equity for ING Investment Management, where he was responsible for building and developing the firm's quantitative equity group, managing more than $20 billion in assets with 15 global active, index and enhanced index strategies for pensions funds, variable annuities, and mutual funds. He joined ING in 2004 from Lehman Brothers, where he served as the head of Quantitative Research for their alternative investment management business. He was also a director of quantitative research and portfolio manager with Merrill Lynch Investment Management and Bankers Trust. Aguilar was a Fulbright Scholar at Duke University’s Institute of Statistics and Decisions Sciences, where he earned his M.S. and Ph.D. He completed a B.S. in actuarial sciences and a graduate degree in applied statistics from the Mexican Autonomous Institute of Technology (ITAM).
About The Lipper Fund Awards
The Lipper Fund Awards are part of the Thomson Reuters Awards for Excellence, a global family of awards that celebrate exceptional performance throughout the professional investment community. The Thomson Reuters Awards for Excellence recognize the world's top funds, fund management firms, sell-side firms, research analysts, and investor relations teams. The Thomson Reuters Awards for Excellence also include the Extel Survey Awards, the IFR Awards, the PFI Awards, the StarMine Analyst Awards, and the StarMine Broker Rankings. For more information, please contact email@example.com or visit excellence.thomsonreuters.com.
About Charles Schwab Investment Management
Founded in 1989, Charles Schwab Investment Management, Inc., a subsidiary of The Charles Schwab Corporation, is one of the nation's largest asset management companies with $219.3 billion in assets under management as of December 31, 2011. It is among the country's largest money market fund managers and is the third-largest provider of retail index funds1. In addition to managing Schwab proprietary funds, CSIM provides oversight for the institutional-style, sub-advised Laudus Fund family. CSIM currently manages 71 mutual funds, 25 of which are actively-managed funds, in addition to four separate account model portfolios, and 15 ETF offerings2.
About Charles Schwab
The Charles Schwab Corporation (NYSE:SCHW) is a leading provider of financial services, with more than 300 offices and 8.6 million client brokerage accounts, 1.5 million corporate retirement plan participants, 787,000 banking accounts, and $1.74 trillion in client assets as of Jan. 31, 2012. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and mortgage services and products. More information is available at www.schwab.com and www.aboutschwab.com. (0312-1716)
1As of 9/30/2011, Strategic Insight
2As of 12/31/2011, CSIM
Past performance is no guarantee of future results. Investment value will fluctuate, and shares when redeemed, may be worth more or less than original cost.
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The Laudus Group® of Funds includes the Laudus Mondrian and Laudus Growth Investors Funds, which are part of the LaudusTrust and Laudus InstitutionalTrust and distributed by ALPS Distributors, Inc; and the Laudus MarketMasters Funds®, which are part of the Schwab CapitalTrust and distributed by Charles Schwab Investment Management Inc. ALPS Distributors, Inc. and Charles Schwab Investment Management, Inc. are unaffiliated entities.
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