Charles Schwab is merging its Laudus Rosenberg International Equity Fund into the Schwab International Core Equity Fund, pending shareholder approval, an SEC filing revealed this month.

Morningstar rates the nine-year-old Laudus fund's investor class one star, while the Schwab fund, started in 2008, is too new to have been rated. The Laudus fund claims assets of $56 million, while the Schwab fund has $39.3 million under management. The Laudus investor share class has an expense ratio of 161 bps, while its Schwab counterpart has a 110 bps ratio.

The shareholder vote is scheduled for November 19, and if approved, the merge will take effect on December 3. 

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