Three Schwab funds now allow investors to convert holdings

By Toni Weeks

San Diego, Dec. 19 - Schwab Municipal Money Fund announced it has added a conversion option to its Schwab Municipal Money Fund, Schwab Value Advantage Money Fund and Schwab Value Advantage Money Fund - Institutional Prime Shares, according to a 497 filing with the Securities and Exchange Commission.

Effective Jan. 19, each fund will have the option to convert the holdings of any existing shareholders who no longer meet eligibility requirements, including minimum account balances, of one class of shares of a fund to another class of shares of the same fund. The investor must meet the applicable eligibility requirements, including minimum account balances, of the class being converted to.

This option is in addition to the current policy, whereby each fund allows shareholders to redeem shares if the value of the investment falls below the stated minimum balance requirement.

The funds' investment adviser is San Francisco-based Charles Schwab Investment Management, Inc.

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