This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
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.