SAN FRANCISCO--(BUSINESS WIRE)--Charles Schwab Investment Management announced today a change regarding its planned reorganization of the Schwab Short-Term Bond Market Fund™ into the Schwab® Short-Term Bond Index Fund and the Schwab Total Bond Market Fund™ into the Schwab® U.S. Aggregate Bond Index Fund, and approved the liquidation of both the Schwab Short-Term Bond Market Fund and Schwab Total Bond Market Fund (the “Funds”).
The Funds were closed to new investors on February 22, 2017, and will be closed to all purchases and exchanges as of August 16, 2017. Both Funds will redeem their outstanding shares on or about August 18, 2017 and distribute proceeds to shareholders.
About Charles Schwab Investment Management
Founded in 1989, Charles Schwab Investment Management, Inc., a subsidiary of The Charles Schwab Corporation, is one of the nation’s largest asset management companies, with more than $316B in assets under management as of 3/31/17. It is among the country’s largest money market fund managers based on assets under management according to iMoneyNet as of 3/31/17. It is also the third-largest provider of index mutual funds and the fifth largest provider of ETFs.*
More information is available at csimfunds.com.
*Source: Strategic Insight, as of 3/31/17; based on assets under management
About Charles Schwab
At Schwab we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity.
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