is continuing to add outside distribution through competing fund supermarkets for its mutual funds. As reported last month, Schwab added its Laudus
and Schwab funds to the rival fund supermarkets at Fidelity, TD Waterhouse and Ameritrade. However, those are not the only platforms where you will soon be able to find the funds, according to the San Francisco-based firm.
, president and chief executive officer of Charles Schwab Investment Management, said that Union Bank of California
and Fiserv Trust
will also carry the funds. She said those firms are in the process of adding the Schwab and Laudus MarketMaster funds. The list of funds includes eight actively managed equity funds and all 10 of the firm's fixed income funds.
In most cases, the investor share class of the funds will be offered on the fund companies' no-transaction-fee platforms, said Dilsaver.
"The popularity and performance of Schwab's mutual funds have caught the interest of brokers and independent advisors who until now haven't been able to offer Schwab Funds to their clients," she said. "If you're not a Schwab client, these funds have been hidden gems despite their great story. This is an opportunity for us to showcase our funds and their unique management style among a broader pool of potential investors."
Dilsaver added that most investors decide to buy mutual funds based on performance and value and that she is confident Schwab can compete on those terms through the newly added distribution channels.
"I'm confident that we can compete on performance where it matters," she said.
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