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Monday, November 08, 2010

Schwab's Low ETF Fees are 'Sustainable,' Crawford Says

News summary by MFWire's editors

Schwab [see profile] isn't cutting ETF prices just for the short-term. Peter Crawford, senior vice president of investment management, revealed that tidbit in an interview with InvestmentNews' Jessica Toonkel. Crawford also dismissed talk that ETFs might eventually have no management fees at all.

"At the end of the day, ETF managers are going to need to get some kind of management fee," Crawford told INews. "Most managers, including ourselves, don't make any money from securities lending. That money goes into the fund. But I do think there will continue to be price compression."

As for Schwab's ETF price cuts, Crawford called the moves "sustainable."

"This is not a short-term strategy for us," Crawford said. 

Edited by: Neil Anderson, Managing Editor

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