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Schwab to provide daily per-share market values for all domestic money market funds

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Charles Schwab Investment Management is to begin posting the per-share market value for all of its domestic taxable and tax-free money market funds on a daily basis, beginning later this quarter.



“As one of the largest retail providers of money market funds, we are committed to providing transparency that helps fund shareholders understand their investments,” says Marie Chandoha (pictured), president, Charles Schwab Investment Management. “While our decision to institute daily reporting of per-share market value was not prompted by a significant number of requests from our clients, we believe this more frequent reporting can serve as an indicator of the stability of our money market products for investors looking for near real-time information.

“We also believe it is incumbent upon us to give our clients this information with the context to help them know what it means and how it can be used, and will be developing education materials that explain in straightforward language why these numbers are being disclosed daily, how investors can read and use the data, and why greater transparency benefits investors.”

Schwab’s money market funds are designed for both short-term investment and longer-term cash investing needs. The funds invest exclusively in US dollar-denominated, high-quality, short-term instruments, including but not limited to securities issued by the federal government, corporations, municipalities, and banks.

The daily disclosure of per-share market values will not impact how Schwab’s money market funds are managed, nor will it change the funds’ objective to maintain USD1.00 stable net asset values.

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