Charles Schwab Investment Management has launched its first proprietary property securities fund.
The affiliate of Charles Schwab, the largest US online brokerage and one of the biggest US asset management companies, has created the Schwab Global Real Estate Fund to provide investors with exposure to the expanding global property market. The fund will begin trading on 31 May.
‘Schwab's new Global Real Estate Fund is one of only a handful of real estate funds available to individual investors that invest in commercial securities on a worldwide basis,’ said Evelyn Dilsaver, president and CEO of Charles Schwab Investment Management. ‘Besides providing an efficient way for investors to gain exposure to the growing market in domestic and international real estate securities, REITs are structured to deliver ongoing income streams, which should appeal to those looking to create income in their portfolios.’
The fund's managers will invest primarily in securities of domestic and international commercial REITs. Day-to-day responsibility for the fund lies with Dionisio Meneses and David Siopack.
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