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Schwab's YieldPlus Bond Fund Rises to Category Leader at Both
Morningstar and Lipper
SAN FRANCISCO, May 18 /PRNewswire-FirstCall/ -- The Schwab YieldPlus
ultra-short bond fund has been named the best performer in its class by Lipper
and Morningstar. As of April 30, 2005, the fund outperformed its 46 peers at
Lipper and 61 at Morningstar. Schwab's fund rose to the top in the ultra-
short categories at both mutual fund rating agencies despite their differing
criteria for the three year period. A consistently high performer, the fund
ranked No. 6 out of 71 funds for the one-year period and No. 3 out of 30 funds
for the five-year period at Lipper; and No. 3 out of 85 funds for the one-year
period and No. 6 out of 43 funds for the five-year period at Morningstar. Since
Dec. 31, 2004, Schwab's fund, which recently surpassed $5.5 billion in assets,
has been the largest ultra-short bond fund at Lipper.
"Investor confidence in Schwab's YieldPlus bond fund is responsible for driving
the incredible growth we've seen in this and other Schwab Funds," said Evelyn
Dilsaver, president and CEO of Charles Schwab Investment Management (CSIM).
"YieldPlus received more inflows than any of Schwab's other mutual funds last
year and has surpassed the industry's leading ultra-short bond fund by more
than $500 million in assets at Lipper, and is the second largest in its class
at Morningstar. This kind of success is directly attributable to the expertise
of our fixed-income management team and their ability to perform reliably and
consistently. As a result of their efforts, the assets in our fixed-income
funds have increased 13 percent over the last quarter, as investors recognize
the wide range of funds available from Schwab to meet a variety of investing
needs."
The YieldPlus bond fund was established Oct. 1, 1999 for investors seeking
higher yields than traditional money market funds and who can tolerate some
fluctuation in net asset value. The fund seeks higher yield, with a higher
related risk, than a money market fund, and relatively less risk than a
longer-term bond fund. The fund invests primarily in investment-grade bonds and
seeks to maintain an average portfolio duration of one year or less; it may
invest up to 25 percent of assets in lower quality bonds.
Portfolio Management
Kim Daifotis, senior vice president and chief investment officer - fixed income
for Charles Schwab Investment Management, manages the Schwab YieldPlus Fund.
Daifotis oversees all fixed-income funds for CSIM, including municipal, taxable
and money market funds. He has more than 20 years of experience in research
and asset management. Prior to joining Schwab in November 1997, he was a senior
portfolio strategist at Lehman Brothers as well as a senior portfolio manager
at Barclays Global Investors.
About Charles Schwab Investment Management
Founded in 1991, Charles Schwab Investment Management, Inc., an affiliate of
Charles Schwab & Co. Inc., is one of the nation's largest mutual fund companies
with $140 billion under management as of March 31, 2005. It is the country's
fourth-largest money market fund manager and third-largest provider of retail
index funds. CSIM currently manages 62 mutual funds including 21 actively
managed equity funds, taxable and tax-free bond funds, and taxable and
municipal money market funds.
About Charles Schwab
The Charles Schwab Corporation (NYSE / Nasdaq: SCH), through its operating
subsidiaries, provides securities brokerage and financial services to
individual investors and the independent investment advisors who work with
them. With over 7 million individual investor accounts and more than $1
trillion in client assets, The Charles Schwab Corporation is one of the
nation's largest financial services firms. Its subsidiary Charles Schwab & Co.,
Inc. (member SIPC) provides a complete range of investment services and
products, including an extensive selection of mutual funds; financial planning
and investment advice; retirement plans; referrals to independent fee-based
investment advisors; and custodial, operational and trading support for
independent fee-based investment advisors. Its subsidiary Charles Schwab Bank,
N.A. (member FDIC) provides banking and mortgage services and products. The
Corporation's other operating subsidiaries include U.S. Trust Corporation
(member FDIC) and CyberTrader(R), Inc. (member SIPC). These companies' Web
sites can be reached at http://www.schwab.com/, http://www.schwabbank.com/,
http://www.ustrust.com/, and http://www.cybertrader.com/. (0505-07908)
Performance data quoted is past performance and no guarantee of future results.
Investment value will fluctuate and shares, when redeemed, may be worth more or
less than their original cost.
Numbers assume reinvestment of dividends and capital gains over each time
period. Lipper, Inc. rankings are based on average annual total returns not
including sales charges for the periods indicated. Lipper, a wholly owned
subsidiary of Reuters, is an independent ranking organization for the mutual
fund industry.
Morningstar Ranking displays the fund's actual rank within its Morningstar
category based on average annual total return and number of funds in that
category
DATASOURCE: Charles Schwab
CONTACT: Lara Edge of Charles Schwab, +1-415-636-3386 or
Web site: http://www.schwab.com/