Charles Schwab Investment Management, Inc. (CSIM) announced today that
three of its mutual funds received accolades from Lipper as
best-in-class over the last 10 years.
For the fifth year in a row, the Schwab California Tax-Free Bond Fund
(SWCAX) took top honors as Best Fund over 10 years out of 15 funds in
the California Intermediate Municipal Debt Funds category. The Schwab
Hedged Equity Fund (SWHEX) was named Best Fund over 10 Years for
“Long/Short Equity Funds,” out of 14 funds in this category. Lipper also
recognized the Laudus Growth Investors U.S. Large Cap Growth Fund
(LGILX) as the Best Fund over 10 Years out of 144 funds in the
“Large-Cap Growth Funds” category.
“We’re so pleased that Lipper selected these funds as outperformers,”
said Marie Chandoha, president and chief executive officer of CSIM.
“Schwab advocates investing for the long-term, so it’s rewarding to
offer investors products recognized for their consistent long-term
performance.”
Schwab California Tax-Free Bond Fund
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 interest is subject to the federal alternative minimum
tax (AMT). The fund had $463 million in assets under management as of
December 31, 2012.
Portfolio Managers
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Ken Salinger joined CSIM in March 2008 and is Managing Director
and Head of Tax-Exempt Strategies, leading the team responsible for
daily trading and management of Schwab’s national and state-specific
tax-free bond funds and municipal money market funds. He has been
responsible for the day-to-day co-management of the fund since 2008.
-
John Shelton is a portfolio manager with CSIM and has
day-to-day responsibility for the management of Schwab’s municipal
bond funds. John joined CSIM in 2000. He has been responsible for the
day-to-day co-management of the fund since 2001.
Schwab Hedged Equity Fund
The Schwab Hedged Equity Fund (SWHEX) seeks long-term capital
appreciation over market cycles with lower volatility than the broad
equity market. The fund establishes long and short equity positions in
U.S. companies, typically by purchasing or selling short stocks of
companies with market capitalizations of $1 billion or more at the time
the stock is purchased or sold short. The fund has a portfolio
optimization process to assist with portfolio construction, and uses
Schwab Equity Ratings to aid in stock selection. Launched in 2002, the
fund had $191 million in assets under management as of December 31, 2012.
Portfolio Managers
-
Jonas Svallin is Managing Director and Head of Disciplined
Active Equity Strategies. Since 2012 he has been responsible for the
day-to-day co-management of the fund.
-
Paul Alan Davis is Managing Director and Senior Portfolio
Manager, and responsible for the day-to-day co-management of the fund
since 2006.
-
Wei Li, Ph.D., is a Portfolio Manager responsible for the
day-to-day co-management of the fund since 2013.
Laudus Growth Investors U.S. Large Cap Growth Fund
The Laudus Growth Investors U.S. Large Cap Growth Fund (LGILX) seeks
long-term capital appreciation. It seeks to invest in companies that
possess dominant market positions and franchises, a major technological
edge, or unique competitive advantage that gives them the potential to
generate high returns on above-average sales and profit growth. The fund
combines fundamental research and quantitative analysis to evaluate
companies based on their relative performance prospects in a variety of
scenarios to identify those for which the magnitude or duration of
future growth are underappreciated by the market. The fund, which
launched in 1997, had $1.47 billion in assets under management as of
December 31, 2012.
Portfolio Managers
-
Paul A. Graham, Managing Director of UBS Global AM, has been a
co-portfolio manager of the fund since November 12, 2012
-
Peter J. Bye, Executive Director of UBS Global AM, has been a
co-portfolio manager of the fund since November 12, 2012
The Lipper Fund Awards recognize funds that have excelled in delivering
consistently strong risk-adjusted performance, relative to peers.
Lipper, a Thomson Reuters company, uses the Lipper Leader for Consistent
Return methodology to designate award-winning funds in most individual
classifications for the three-, five-, and ten-year periods.
About The Lipper Fund Awards
The Lipper Fund Awards are part of the Thomson Reuters Awards for
Excellence, a global family of awards that celebrate exceptional
performance throughout the professional investment community. The
Thomson Reuters Awards for Excellence recognize the world's top funds,
fund management firms, sell-side firms, research analysts, and investor
relations teams. The Thomson Reuters Awards for Excellence also include
the Extel Survey Awards, the StarMine Analyst Awards, and the StarMine
Broker Rankings. For more information, please contact markets.awards@thomsonreuters.com
or visit excellence.thomsonreuters.com
About Charles Schwab Investment Management
Founded in 1989, Charles Schwab Investment Management, Inc. (CSIM), a
subsidiary of The Charles Schwab Corporation, is one of the nation's
largest asset management companies with $219.3 billion in assets under
management as of December 31, 2012. 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’s proprietary funds, CSIM
provides oversight for the sub-advised Laudus Fund family. CSIM
currently manages 76 mutual funds in addition to two separate account
model portfolios, and 15 ETFs.
About Charles Schwab
The Charles Schwab Corporation (NYSE:SCHW) is a leading provider of
financial services, with more than 300 offices and 8.9 million active
brokerage accounts, 1.6 million corporate retirement plan participants,
888,000 banking accounts, and $2.08 trillion in client assets as of
March 31, 2013. The company was ranked ’Highest in Investor Satisfaction
With Self-Directed Services’ in the 2012 US Self-Directed Investor
Satisfaction StudySM from J.D Power and Associates. 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,
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; compliance and trade monitoring solutions; referrals to
independent fee-based investment advisors; and custodial, operational
and trading support for independent, fee-based investment advisors
through its Advisor Services division. Its banking subsidiary, Charles
Schwab Bank (member FDIC and an Equal Housing Lender), provides trust
and custody services, banking and lending services and products.
Investment products offered by Charles Schwab & Co., Inc. are not
insured by the FDIC, are not deposits or obligations of Charles Schwab
Bank, and are subject to investment risk, including the possible loss of
principal invested. More information is available at www.schwab.com
and www.aboutschwab.com.
Investors should consider carefully information contained in the
prospectus, including investment objectives, risks, charges, and
expenses. You can request a prospectus by calling 800-435-4000. Please
read the prospectus carefully before investing.
Past performance does not guarantee future results.
Investment value will fluctuate, and shares, when redeemed, may be worth
more or less than their original cost.
Hedged Equity Fund’s long positions can decline in value at the same
time the value of the short stock increases, thereby increasing the
potential for loss. The potential loss associated with short positions
is much greater than the original value of the securities sold. The use
of borrowing and short sales may cause the fund to have higher expenses
than those of equity funds that do not use such techniques.
Investment income from some municipal bond funds may be subject to
certain state and local taxes and the federal alternative minimum tax.
Capital gains are not exempt from federal income tax.
The Laudus Group® of Funds includes the Laudus Mondrian and Laudus
Growth Investors Funds, which are part of the Laudus Trust and Laudus
Institutional Trust and distributed by ALPS Distributors, Inc.; and the
Laudus MarketMasters Funds®, which are part of the Schwab Capital Trust
and distributed by Charles Schwab & Co., Inc. ALPS Distributors, Inc.
and Charles Schwab Investment Management, Inc. are unaffiliated entities.
Charles Schwab Investment Management, Inc. ("CSIM"), the investment
advisor for Schwab's proprietary funds, and Charles Schwab & Co., Inc.
("Schwab"), the distributor for Schwab Funds, are separate but
affiliated companies and subsidiaries of The Charles Schwab Corporation.
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