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Schwab adds Laudus large cap growth fund


Charles Schwab Investment Management has added the Laudus Growth Investors US Large Cap Growth Fund, a successor to the UBS US Large Cap Growth Fund, to its Laudus Funds line-up.

Charles Schwab Investment Management has added the Laudus Growth Investors US Large Cap Growth Fund, a successor to the UBS US Large Cap Growth Fund, to its Laudus Funds line-up.

The fund seeks to benefit from the portfolio management team at Growth Investors, which has managed the fund and its predecessor since 2002. The team will use the Laudus model of making institutional-quality investment managers available for advisers and individual investors in relatively low-cost investment products.

‘Large cap growth is a significant mutual fund category key to the success of well-diversified portfolios. We’re excited to make this available to Schwab clients,’ says Jeff Mortimer (pictured), president of Laudus Funds and chief investment officer of Charles Schwab Investment Management. ‘The growth investors team has more than 20 years of investment industry experience, and we’re proud to make that experience available to Schwab clients.’

The Laudus Growth Investors US Large Cap Growth Fund will continue to use a ‘pure growth’ strategy, with a goal of consistent performance through the application of fundamental growth discipline and research to identify companies believed to have potential for sustainable above-average sales and profit growth.

Under the reorganisation approved by shareholders, the fund will retain the performance history and four-star Morningstar rating of its predecessor, the UBS US Large Cap Growth Fund. Investors in the UBS fund became investors in the Laudus Fund as of the close of business on 10 July 2009.

‘Under partnerships with Axa Rosenberg, Mondrian Investment Partners, and now Growth Investors, the Laudus Funds are able to put some of the best minds in the business to work for independent advisers and investors,’ says Mortimer. ‘Our new partnership with Growth Investors gives our clients access to a global leader in large-cap growth investing at a highly competitive price.’

The fund will be available for a minimum initial investment of USD100. The fund will have no loads or transaction fees, and its net operating expense ratio (0.78 per cent) is significantly below the Morningstar category average (1.37 per cent).

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