New Minimums Effective for All Account Types
SAN FRANCISCO, May 8 /PRNewswire-FirstCall/ -- Charles Schwab
Investment Management, the asset management affiliate of Charles Schwab and
Co., Inc., today announced it has lowered the minimum initial investment
requirement for Schwab Funds(R) to $100 (1). Combined with Schwab's
recently lowered account opening minimums, the new Schwab Funds minimums
make it even easier for people to start investing for the future.
"This offers tremendous value to new investors who now have greater
access to some of the best mutual funds in the industry for as little as
$100," said Evelyn Dilsaver, president and CEO, Charles Schwab Investment
Management, Inc.
The $100 minimum initial investment is effective immediately and
applies to all investor shares of variable net asset value funds in the
Schwab Funds family. Previously, the minimums typically ranged from $1,000
to $2,500 depending on the fund and account type. For more information
about Schwab Funds, visit http://www.schwab.com/schwabfunds.
The new initial minimums for Schwab Funds complement Schwab's new lower
account minimums. Effective April 1, the minimum to open nearly any type of
account at Schwab is $1,000, and custodial account minimums are just $100.
The $1,000 account minimum is waived entirely for individuals who make the
commitment to deposit $100 or more each month via direct deposit or Schwab
MoneyLink(R).
"All of these changes are part of our overall commitment to removing
barriers that prevent newer investors from getting started saving and
investing," said Jonathan Craig, vice president, Schwab Investor Services.
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.
About Charles Schwab Investment Management
Founded in 1989, Charles Schwab Investment Management, Inc., (CSIM) is
a subsidiary of the Charles Schwab Corporation and is one of the nation's
largest asset management companies with $200.4 billion in assets under
management as of March 31, 2007. CSIM is among the country's largest money
market fund managers and is the third-largest manager of retail index
funds. CSIM is also known for its active equity funds that are designed to
tap into Schwab's proprietary stock research methodology -- Schwab Equity
Ratings(R) and its active bond funds such as the Schwab YieldPlus Fund(R).
In addition to managing Schwab Funds, CSIM provides oversight for the
institutional-style, sub-advised Laudus Funds family. CSIM currently
manages 69 mutual funds, including 35 actively-managed funds, and five
separate account strategies.
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. Charles Schwab Bank,
N.A. (member FDIC) provides banking and mortgage services and products.
More information is available at http://www.schwab.com. (0507-4763)
(1) Excludes Schwab Money Market Funds and Laudus Rosenberg Funds
SOURCE Charles Schwab
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Related links:
http://www.schwab.com/
CONTACT:
Matt Hurwitz, Charles Schwab, +1-415-636-3700
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