Laudus International MarketMasters InvSWOIX

Morningstar Rating

Fund Research and Analysis

by Gregg Wolper

Laudus International MarketMasters' method is passing the test of time.

This fund uses a multimanager structure. The overall managers from Schwab Investment Management have assembled five subadvisors with very different styles and mandates. The makeup Read more

Kudos

Impressive lineup of subadvisors.

Overall managers from Schwab have done good job adjusting lineup and allocating assets.

Convenient way to gain access to some subadvisors who otherwise may be unavailable to investors. Read more

Risks

When the biggest stocks take the lead, it may not keep up with rivals that focus more specifically on large caps.

Expense ratio is significantly above median for no-load foreign large-cap or foreign small-cap funds. (A share class with a higher minimum is less costly, but even that class is no bargain.)

Higher-than-average emerging-markets exposure. Read more

Strategy

In mid-2002, this fund changed from a fund of funds, in which Schwab assembled a portfolio of mutual funds, to a multimanager format with four (now five) subadvisors representing different styles. The Read more

Management

Jeff Mortimer, has directed equities at the advisor, Charles Schwab Investment Management, since June 2004. He has been a manager on this fund since 2000 and had day-to-day responsibility for it until 2004. The current day-to-day manager is Caroline Read more

Inside Scoop

This fund has a diversified lineup of five subadvisors. Managers from Schwab Investment monitor this roster. They can, and do, adjust the levels of assets allocated to each Read more

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