Three New Schwab Index Funds

January 01, 1999

Charles Schwab Investment Management, Inc., the investment management branch of Charles Schwab & Co. is courting investment managers with its latest family of index funds.

The Institutional Select S&P 500 Fund tracks the S&P 500 Index, while the Institutional Large-Cap Value Index Fund tracks the S&P 500/BARRA Value Index. The Institutional Select Small-Cap Value Index Fund tracks the S&P Small-Cap 600/BARRA Value Index. At least 90% of the funds' assets will be invested in the indexes they seek to follow.

The funds began operations on Feb. 1. In the middle of February, the S&P 500 fund had $52 million in assets, and the Large-Cap Value fund had $18 million. The Small-Cap Value had $12 million in assets.

Schwab also expects to introduce a Wilshire 5000-based index fund in the near future.


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