Charles Schwab Kicking Off Pair of 'Ultra-Short' Municipal Bond Funds

Fine, Jacob
November 2004
Bond Buyer;11/17/2004, Vol. 350 Issue 32012, p6
Trade Publication
The article reports on the San Francisco, California-based fund giant Charles Schwab Corp.'s plans to create two ultra-short tax-free bond mutual funds in December 2004. The funds are designed to help shield investors from principal losses if interest rates rise, while still providing them with taxfree returns that are higher than those attainable through money market funds. The funds are being offered in two share classes. The investor shares require an initial investment of at least $2,500, with subsequent investment minimums of $500. The select shares which will offer a lower operating expense ratio in return for higher investment minimums have an initial investment of at least $50,000, with subsequent investment minimums of $1,000.


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