SAN FRANCISCO, May 1 /PRNewswire-FirstCall/ -- Charles Schwab
Investment Management (CSIM), the asset management affiliate of Charles
Schwab and Co., Inc., today launched its first proprietary real estate
securities fund. The Schwab Global Real Estate Fund(TM) specializes in
commercial properties worldwide, providing exposure to the expanding global
investment sector.
"Schwab's new Global Real Estate Fund is one of only a handful of real
estate funds available to individual investors that invest in commercial
securities on a worldwide basis," said Evelyn Dilsaver, president and CEO
of Charles Schwab Investment Management. "Besides providing an efficient
way for investors to gain exposure to the growing market in domestic and
international real estate securities, REITs are structured to deliver
ongoing income streams, which should appeal to those looking to create
income in their portfolios."
The fund's managers will invest primarily in securities of domestic and
international commercial real estate investment trusts (REITs) and other
similar REIT-like structures, as well as real estate operating companies
(REOCs). They will select investments based on the proprietary global
database and research model developed by Global Real Analytics (GRA), a
leader in applied real estate analytics and commercial real estate index
products for more than 25 years. GRA was acquired by CSIM in January of
this year. Fund managers will conduct additional research to identify
specific markets and underlying securities they believe are likely to
exhibit the strongest potential for long-term price appreciation and
dividend income. The fund will not invest directly in individual real
estate properties.
"The opportunity to invest in the global real estate market is growing
as more countries adopt a U.S. REIT-like structure," said James Sempere,
CSIM's managing director of real estate investments and research. "This
fund is designed to give investors access to the best part of that
expanding market."
The new fund will be in subscription until May 30, 2007 and will begin
trading on May 31, 2007. Two share classes will be offered:
* The Investor share class (SWAIX) with an expense ratio of 1.20%; and
* Select Shares(R) (SWASX) with an expense ratio of 1.05% and minimum
investment of $50,000.
Additional fund details are available at
http://www.schwab.com/GlobalRealEstate or by calling (800) 308-1486.
Fund Management
Jeffrey Mortimer, CFA, senior vice president and chief investment
officer of equities for CSIM, is responsible for the overall management of
the fund. He joined Schwab in 1997 after working for nine years in asset
allocation and manager selection.
Dionisio Meneses, Jr., a managing director and portfolio manager of
CSIM, has day-to-day co-responsibility for the management of the fund. He
joined Schwab in 2007 and has worked in real estate research and analysis
since 1985, most recently as a senior manager for GRA.
David Siopack, CFA, a managing director and portfolio manager of CSIM,
has day-to-day co-responsibility for the management of the fund. He joined
the firm in 2007 and has worked in real estate research and analysis since
1993. He was a senior manager for GRA when it was acquired by Schwab.
About Charles Schwab Investment Management
Founded in 1991, Charles Schwab Investment Management, Inc., (CSIM) is
a subsidiary of the Charles Schwab Corporation, is one of the nation's
largest asset management companies with $200.4 billion in assets under
management as of March 31, 2007. It is among the country's largest money
market fund managers and is the third- largest provider of retail index
funds. In addition to managing Schwab proprietary funds, CSIM provides
oversight for the institutional-style, sub-advised Laudus Fund family. CSIM
currently manages 69 mutual funds, including 35 actively-managed funds, and
five separate account model portfolios.
About Charles Schwab
The Charles Schwab Corporation (Nasdaq: SCHW) is a leading provider of
financial services, with more than 300 offices and 6.8 million client
brokerage accounts, 1.1 million corporate retirement plan participants,
151,000 banking accounts, and $1.3 trillion in client assets. 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, http://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 its Schwab Institutional division. The Charles Schwab
Bank, N.A. (member FDIC) provides banking and mortgage services and
products. More information is available at http://www.schwab.com. (0407-4758)
INVESTORS SHOULD CONSIDER CAREFULLY INFORMATION CONTAINED IN THE MUTUAL
FUND PROSPECTUS, INCLUDING INVESTMENT OBJECTIVES, RISKS, CHARGES AND
EXPENSES. YOU CAN REQUEST A MUTUAL FUND PROSPECTUS BY CALLING SCHWAB AT
800-435-4000. PLEASE READ THE PROSPECTUS CAREFULLY BEFORE INVESTING.
There are risks associated with investing in foreign markets, such as
erratic market conditions, economic and political instability, and
fluctuations in currency and exchange rates. Risks of the REITs are similar
to those associated with direct ownership of real estate, such as changes
in real estate values and property taxes, interest rates, cash flow of
underlying real estate assets, supply and demand, and the management skill
and credit worthiness of the issue. Investment value and return will
fluctuate such that shares, when redeemed, may be worth more or less than
original cost.
Subscription orders must be received in good form by 4 p.m. EDT on May
30, 2007. Orders received after that time will be invested at the next
determined net asset value (NAV) after receipt and acceptance of the order
by Schwab. Sufficient assets must be in your account by 9 a.m. EDT on May
30, 2007. If you do not have sufficient assets to meet the minimum initial
investment requirement for the fund you have selected, your order will be
canceled. You may reinstate your order by bringing a check to your local
Schwab branch by 4 p.m. EDT on May 30, 2007. Share prices will fluctuate
once operations commence on May 31, 2007.
SOURCE Charles Schwab
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Related links:
http://www.schwab.com/
CONTACT:
Sondra Harris of Charles Schwab,
+1-415-636-3292, sondra.harris@schwab.com; or Amiee Watts of
SunStar PR, +1-703-894-1042, or awatts@isunstar.com
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