Charles Schwab Investment Management (CSIM), a US investment firm has launched the Laudus Mondrian Global Fixed Income Fund (LMGDX), which offers access to international developed US, and emerging market bond markets globally.
The fund has been designed with a strategy to offer long-term total returns by investing in fixed-income securities around the world, the wealth manager said.
The fund issuer claims that the funds will comprise of high-quality bonds issued by the governments or government agencies of developed and emerging market countries.
Available for a $100 minimum investment, the fund has a gross operating expense ratio (OER) of 1.03%, with a net OER of 0.85%, which is waived through 10 January 2013.
Charles Schwab Investment Management vice president John Sturiale said that the clients are demanding for exposure to the world’s expanding bond markets both for their performance potential and for their historically low correlation with other asset classes.
"We’re pleased we can now offer investors the ability to access these markets through one fund managed by an institutional money manager known for its international fixed income capabilities," Sturiale added.
The wealth manager has selected London-based institutional investment manager Laudus Mondrian Funds to sub-advise over the investment strategy.
As of 31 May 2012, CSIM had $202bn in assets under management.