Schwab Annouces Global Real Estate Mutual Fund

My monthly Schwab statement included a newsletter that featured an announcement about a new mutual fund Schwab is starting. It's called the Schwab Global Real Estate Fund and it will invest in REITs and REOCs (real estate operating companies). The initial subscription period is May 1, 2007 through May 30, 2007 and the initial price is $10.00 per share, with a $2,500 minimum ($1,000 minimum for retirement accounts and $100 minimum for custodian accounts). More information can be found here. The expenses are 1.36%, but they have agreed to limit them to 1.20% through 6/30/09.

As always, this is not a solicitation to buy or sell any security. Do your own due diligence.