Products May 2, 2008

Schwab Unveils Two Equity Offerings

Charles Schwab has launched two Laudus funds with Mondrian Investment Partners Limited that are designed for institutional investors.
Reported by

The Laudus Mondrian Institutional Emerging Markets Fund and the Laudus Mondrian Institutional International Equity Fund began operations April 25.

The Laudus Mondrian Institutional International Equity Fund will invest primarily in non-U.S. large capitalization equity securities. The Laudus Mondrian Institutional Emerging Markets Fund will invest primarily in large-capitalization securities in emerging markets, according to the company.

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Both funds will follow Mondrian’s value-oriented process that seeks to identify undervalued securities the manager believes will provide strong returns over a full market cycle.

The two new offerings have an investment minimum of $1 million. Subject to the expense limitation agreement, the net expense ratio of the Emerging Markets Fund will be no more than 1.27%, and the net expense ratio of the International Equity Fund will be no more than 0.90%, Schwab said.

Deals & People May 2, 2008

Illinois Insurance Broker Picks up NJ Benefits Consultant

The Itasca, Illinois-based Arthur J. Gallagher&Co., an insurance broker, has acquired employee benefits consultant RSI of Mount Laurel, New Jersey.
Reported by

RSI offers benefit consulting and brokerage services that include strategic analysis and plan design, human resource services, benefit outsourcing, retirement plan consulting, and employee communications support.

The company specializes in middle-market businesses in New Jersey, New York, Pennsylvania, and northern Delaware, with 50 to 1,000 employees. The companies said RSI will continue to operate at its current location with its current staff.

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Arthur J. Gallagher & Co, has operations in 13 countries and does business in more than 100 countries around the world through a network of correspondent brokers and consultants.

A news release announcing the deal said terms of the transaction were not disclosed.

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