New additions to family of low-cost index funds deliver more choice and value to investors
Charles Schwab Investment Management (CSIM), an asset management arm of
The Charles Schwab Corporation, today announced it is launching three
new Schwab index mutual funds that will extend its existing low-cost
index mutual fund lineup. The funds will be available for purchase on or
about December 20, 2017.
The new funds are as follows:
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Ticker
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Fund
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Benchmark Index
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OER
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SWLGX
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Schwab ® U.S. Large-Cap Growth Index Fund
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Russell 1000® Growth Index
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0.04%
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SWLVX
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Schwab ® U.S. Large-Cap Value Index Fund
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Russell 1000® Value Index
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0.04%
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SWMCX
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Schwab ® U.S. Mid-Cap Index Fund
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Russell Midcap® Index
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0.05%
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Featuring no investment minimums (ensuring every investor gets the
lowest pricing, regardless of how much they have to invest), a single
share class, and total annual fund operating expenses (OERs) of four
(0.04%) to five (0.05%) basis points, the new funds provide investors
with straightforward products at a low cost. Additionally, from the
launch of the funds through June 30, 2018, the OERs will be voluntarily
waived by the investment adviser.
“We are pleased to make these three new index mutual funds available to
investors who want exposure to the U.S. market,” said Marie Chandoha,
president and chief executive officer of CSIM. “With the addition of
these funds, we now provide all of the core foundational products
investors need for U.S. equity allocation, regardless of vehicle –
exchange traded fund (ETF) or mutual fund – at a great value.”
A Leader and Innovator in Index Investing for 25+ Years
Schwab has been a pioneer in index investing since 1991 when company
founder and chairman Charles Schwab led the launch of the Schwab 1000
Index and the mutual fund that tracks it, the Schwab 1000 Index® Fund
(SNXFX). Today, CSIM is the 3rd largest index fund provider
in the industry.* CSIM currently offers 36 index funds (includes both
mutual funds and ETFs) with $155.9 billion in assets under management.1
In keeping with Schwab’s heritage of disruption and innovation, the firm
implemented dramatic pricing changes, simplified its fee structure, and
eliminated investment minimums on its index mutual funds earlier
this year.
A complete list of Schwab’s index funds can be found here.
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 more than $340 billion in
assets under management as of 10/31/17. It is also the third largest
provider of index mutual funds and the fifth largest provider of ETFs*.
More information is available at schwabfunds.com.
*Source: Strategic Insight, as of 10/31/17; based on assets under
management.
1 Source: Strategic Insight Simfund, as of October 31, 2017
About Charles Schwab
At Schwab, we believe in the power of investing to help individuals
create a better tomorrow. We have a history of challenging the status
quo in our industry, innovating in ways that benefit investors and the
advisors and employers who serve them, and championing our clients’
goals with passion and integrity.
More information is available at www.aboutschwab.com.
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Disclosures
Investors should consider carefully information contained in the
prospectus, or if available, the summary prospectus, including
investment objectives, risks, charges and expenses. You can request a
prospectus by visiting schwabfunds.com/prospectus. Please read it
carefully before investing.
Investment returns and principal value will fluctuate and are subject to
market volatility, so that an investor’s shares, when redeemed or sold,
may be worth more or less than their original cost.
Charles Schwab Investment Management, Inc. (CSIM), the investment
advisor for Schwab Funds, and Charles Schwab & Co., Inc. (Schwab),
Member SIPC,
the distributor for Schwab Funds, are separate but affiliated companies
and subsidiaries of The Charles Schwab Corporation.
©2017 Charles Schwab Investment Management, Inc. All rights reserved.
(1217-7S48)
