Schwab reserves the right to exempt certain funds from this fee, including Schwab Funds®, which may charge a separate redemption fee, and funds that accommodate short-term trading.
Schwab's short-term redemption fee of $49.95 will be charged on redemption of funds purchased through Schwab's Mutual Fund OneSource® service (and certain other funds with no transaction fee) and held for 90 days or less. If an expense waiver was in place during the period, the net expense ratio was used to calculate fund performance. Investment value will fluctuate, and shares, when redeemed, may be worth more or less than original cost. Past performance does not guarantee future performance. Please read the prospectus carefully before investing. You can view, download, and print a prospectus by clicking on Prospectus & Reports or by calling 1-80. Investors should consider carefully information contained in the prospectus or, if available, the summary prospectus, including investment objectives, risks, charges and expenses. Schwab's Financial and Other Relationships with Mutual Funds Some of the data may not be applicable to your plan's core retirement plan investments. Information regarding "Fees & Expenses" and "Investment Minimums" generally applies to retail investment accounts as well as Personal Choice Retirement Accounts (PCRA). To find out more about trading Interval Funds, please read Interval Funds: What you need to know. In such event, shareholders may not be able to sell their expected amount, and would potentially experience increased illiquidity and market exposure, which could increase the potential for investment loss. If repurchase requests exceed the number of shares that a fund offers to repurchase during the repurchase period, repurchases are prorated (reduced by the same percentage across all trades) prior to processing.
The actual repurchase will occur at a later, specified date. The fund will specify a date by which shareholders must accept the repurchase offer. Instead, periodic repurchase offers are made to shareholders by the fund.
Rules and regulations related to interval funds enable fund companies to create portfolios with less capital volatility while holding a greater percentage of less-liquid, longer-term investments, often with higher risk-return opportunities than may be readily achieved in open-end mutual funds or exchange-traded funds (ETFs).Īlthough interval fund purchases resemble open-end mutual funds in that their shares are typically continuously offered and priced daily, they differ from traditional closed-end funds in that their shares are not sold on a secondary market. Interval funds are closed-end funds that offer daily purchases and redeem shares by periodically offering to repurchase a certain portion of shares from shareholders ("tenders" or "redemptions"). Interval funds are not available for purchase by individual investors.
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