Charles Schwab Investment Management, the asset management subsidiary of Charles Schwab Corporation, has added Laudus Growth Investors US Large Cap Growth Fund (LGI ULCGF) to its Laudus Funds lineup – as successor to the UBS US Large Cap Growth Fund.
It had stated that the fund expects to benefit from the portfolio management team at Growth Investors, a global growth manager focusing on high-alpha growth strategies. The company has reported that under the reorganization approved by shareholders, the LGI ULCGF will retain four-star Morningstar rating of its predecessor. As a result, investors in the UBS fund became investors in the Laudus Fund as of the close of business on July 10, 2009.
The company added that the fund will be available for a low minimum initial investment of $100. In addition, the fund will have no loads or transaction fees, and its net operating expense ratio (0.78%) is below the Morningstar category average (1.37%).
San Francisco-based Charles Schwab Corporation is a provider of financial services. Through its operating subsidiaries, the company provides securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors.
