Schwab to Expand Mutual Fund Information Services With Schwab DirectDetail(TM)

New Web-Based Service Provides Schwab Clients With Timely Information Directly

From Fund Companies; Initial Participants Include Janus, INVESCO, American

Century, Firsthand, Dreyfus and SchwabFunds.



Apr 03, 2001, 01:00 ET from Charles Schwab & Co., Inc.

    SAN FRANCISCO, April 3 /PRNewswire/ -- Charles Schwab & Co., Inc.
 (NYSE:   SCH), one of the nation's leading financial services firms, announced
 today that it is strengthening its services for mutual fund investors with the
 introduction of Schwab DirectDetail(TM), a new source of timely mutual fund
 information provided directly by fund companies for Schwab clients.
     As the first service of its kind offered by a mutual fund "supermarket,"
 DirectDetail allows clients to supplement the research and analysis they
 receive from Schwab with in-depth insights and timely information from fund
 companies. The service is available only through schwab.com and provides
 one-stop access to performance analysis, fund company history, direct manager
 commentary and other information, making it easier for clients to understand
 both the past performance of their holdings as well as the outlook of the
 managers responsible for them. By combining DirectDetail with Schwab's
 existing mutual fund research and advice, Schwab clients now have a convenient
 source of both quantitative and qualitative information on a variety of
 leading mutual funds.
     "DirectDetail is adding a whole new dimension to mutual fund research at
 Schwab," said Dave Shaver, Schwab Senior Vice President of Mutual Fund
 Marketing. "It provides clients with access to in-depth insights from fund
 companies, and it adds a richness of detail to Schwab's mutual fund research
 and advice. We think this will help our clients to be intelligent, committed,
 long-term mutual fund investors."
     Six companies are participating in the launch of DirectDetail. Janus,
 INVESCO, and American Century have DirectDetail sites operating. Starting in
 April, Firsthand, Dreyfus and SchwabFunds will be added to the platform. These
 firms are recognized leaders in the industry and account for over half the
 client assets in Schwab's Mutual Fund OneSource Service. Additional fund
 companies will be invited to participate in DirectDetail in the near future.
     "DirectDetail will greatly benefit investors who do business on schwab.com
 by seamlessly providing them with the most complete and timely information
 available on Janus' funds," said Janus Vice President of Retail Marketing
 Robin Beery.
     "We are continuously striving to facilitate the way clients do business
 with us. DirectDetail provides our clients with yet another resource to make
 informed financial decisions online," said Richard Healey, Senior Vice
 President and Director of Marketing for INVESCO Funds Group.
     "DirectDetail gives American Century the opportunity to provide additional
 insight, investment education and fund information to our current and future
 investors at Charles Schwab," said Mitch Wurzer, Vice President of Investment
 Advisor Sales at American Century. "We feel the tools and information that
 Schwab is developing with the fund companies will greatly enhance their
 customers' investment insight."
 
     Direct Detail:  The Details
     DirectDetail is accessible from www.schwab.com/directdetail, and through a
 variety of other access points throughout schwab.com. Fund companies create
 individual information sites within DirectDetail to provide Schwab clients
 with a convenient single-source mutual fund research tool for their funds. The
 result:  DirectDetail will help Schwab clients make more informed decisions
 about buying, selling, or holding their mutual fund investments.
     Each fund company's individual DirectDetail site provides general
 information, which varies by fund company, but may include fund company
 history, investing philosophy, a summary of funds offered by the fund family
 and access to company news and press releases. Each firm also provides
 specific information on individual funds. Depending on the fund company, the
 information may include fund strategies, manager commentaries, portfolio
 manager profiles, details on top 10 holdings, performance data and statistics,
 and electronic access to fund prospectuses and annual reports.
     "Schwab has once again demonstrated its position on the leading edge of
 the industry, responding to shareholder demand by delivering a well-integrated
 platform for delivering timely information from investment companies," said
 Phil Mosakowski, Vice President of Mutual Fund Marketing, Firsthand Capital
 Management, Inc. "We're excited to be part of the initial roll-out of
 DirectDetail and we welcome this opportunity to enhance our relationship with
 our shareholders."
     "Customer focus is our number one priority at Dreyfus and is a natural
 extension to the marquis services we've offered our shareholders for 50
 years," said Stephen R. Burke, Dreyfus President of Marketing and Advertising.
 "We value our partnership with Schwab and our customer relationships through
 Schwab," Mr. Burke continued. "Dreyfus looks forward to continuing to provide
 excellent service to our customers through DirectDetail."
     Fund companies are using a variety of methods to communicate to Schwab
 fund investors via DirectDetail. INVESCO, for example, uses multimedia
 commentaries from fund managers to provide investment strategies and
 perspectives, as well as current market outlooks.
     Other communications provided by fund companies:
 
     -- American Century's "Investor Education" tab gives detailed information
        from the Financial FYI(R) series produced by the Education and Guidance
        Department of American Century Investments.
     -- The Janus "Research Insights" section provides interesting anecdotes on
        how analysts and fund managers research the stocks that make up their
        funds.
     -- Dreyfus will feature "Market Outlook," a weekly commentary from Chief
        Economist Richard Hoey that will look at the economy, market trends and
        other economic analysis.
     -- Firsthand's "Portfolio Updates" will provide a monthly discussion of
        recent additions to Firsthand portfolios, giving investors an
        understanding of why the stocks were added and what role they will play
        in the portfolio.
     -- For SchwabFunds, the "Fund Facts" section is designed to provide
        investors with a clearer sense of each fund's principal investments,
        while the "In Their Own Words" section offers insights from the
        portfolio managers on a variety of investment topics. The site also
        provides a section where investors can e-mail questions to SchwabFunds.
 
     "We designed the SchwabFunds(R) DirectDetail site to help investors focus
 on the information that really matters, so they can make more informed mutual
 fund investment decisions and keep their portfolios working harder over the
 long term," said Carolyn Stewart, vice president of SchwabFunds Marketing and
 Product Management.
 
     Enhancing Services to Fund Investors
     DirectDetail is one part of Schwab's full-service package of web-based
 products and services that are designed to help mutual fund investors make
 intelligent financial decisions.
 
     -- Advanced Mutual Fund Screener:  The Schwab screener analyzes more than
        10,000 funds listed by Morningstar, Inc., and includes features such as
        screening for funds that beat benchmarks or category averages, risk
        measures, Morningstar ratings and tax efficiency levels. In addition,
        investors can further narrow their fund selection by screening for
        "special criteria" options (such as socially conscious funds or index
        funds).
     -- Fund Details:  Expanded fund reports are available to Schwab customers
        for the more than 10,000 funds listed by Morningstar, Inc. Features
        include:  after-tax returns, load-adjusted returns, a tax efficiency
        scale, and data that allows investors to compare the fund's returns to
        its benchmark index and category average.
     -- Email alerts:  Two mutual fund specific email alerts help keep Schwab
        clients informed about their investments. My Mutual Fund Performance
        Summary Email shows the end-of-month prices, performance and benchmarks
        for each fund symbol a client holds as a position or on a watch list in
        their account, as well as a market summary covering major news and
        events that have impacted the market. The Mutual Funds Select List(TM)
        Email provides a link to the Mutual Fund Select List, a quarterly list
        of historically high-performing funds available through Schwab and
        published by the Schwab Center for Investment Research(R). The email
        will include a link to an article with additional information to help
        them make smarter investing decisions about selecting funds.
     -- Schwab Mutual Fund Select List(R):  The Select List is Schwab's list of
        historically high-performing funds selected by Schwab's Center for
        Investment Research. Funds on the list have been rigorously screened to
        include only those that meet strict performance, risk and cost
        criteria.
 
     "Our clients use Schwab.com to do much of their in-depth mutual fund
 research," said Shaver. "By providing many levels of information -- in the
 form of both quantitative performance data and qualitative research -- we're
 helping clients deepen their understanding of the funds they own. We think our
 clients will benefit from the insights that DirectDetail provides."
 
     About Charles Schwab
     The Charles Schwab Corporation, through Charles Schwab & Co., Inc. (member
 SIPC/NYSE), U.S. Trust Corporation, CyBerCorp Holdings, Inc. and its other
 independent operating subsidiaries, is one of the nation's largest financial
 services firms serving 7.6 million active accounts with $844.8 billion in
 client assets. At the end of 2000, Schwab served 4.3 million online investor
 accounts with $365 billion in assets. Schwab provides a full-service investing
 experience to clients through 415 domestic offices, five regional client
 telephone service centers, the Internet, automated touch-tone telephone,
 automated voice recognition, e-mail, wireless technologies and multi-lingual
 and international offices. About 25% of Schwab's client assets and 10% of its
 client accounts are managed by the 6,000 third-party, fee-based investment
 advisors served through Schwab Institutional. The Charles Schwab, U.S. Trust
 and CyBerCorp Web sites can be reached at "http://www.schwab.com" ,
 "http://www.ustrust.com" and "http://www.cybercorp.com" , respectively.
 
     (Access to Electronic Services may be limited or unavailable during
 periods of peak demand, market volatility, systems upgrade, maintenance, or
 other reasons.)
     Prospectuses containing more complete information, including management
 fees, charges and expenses, are available from Schwab by calling
 800-435-4000, or visiting our Web site. Please read the prospectus carefully
 before investing or sending money. (0001-16792)
 
 

SOURCE Charles Schwab & Co., Inc.
    SAN FRANCISCO, April 3 /PRNewswire/ -- Charles Schwab & Co., Inc.
 (NYSE:   SCH), one of the nation's leading financial services firms, announced
 today that it is strengthening its services for mutual fund investors with the
 introduction of Schwab DirectDetail(TM), a new source of timely mutual fund
 information provided directly by fund companies for Schwab clients.
     As the first service of its kind offered by a mutual fund "supermarket,"
 DirectDetail allows clients to supplement the research and analysis they
 receive from Schwab with in-depth insights and timely information from fund
 companies. The service is available only through schwab.com and provides
 one-stop access to performance analysis, fund company history, direct manager
 commentary and other information, making it easier for clients to understand
 both the past performance of their holdings as well as the outlook of the
 managers responsible for them. By combining DirectDetail with Schwab's
 existing mutual fund research and advice, Schwab clients now have a convenient
 source of both quantitative and qualitative information on a variety of
 leading mutual funds.
     "DirectDetail is adding a whole new dimension to mutual fund research at
 Schwab," said Dave Shaver, Schwab Senior Vice President of Mutual Fund
 Marketing. "It provides clients with access to in-depth insights from fund
 companies, and it adds a richness of detail to Schwab's mutual fund research
 and advice. We think this will help our clients to be intelligent, committed,
 long-term mutual fund investors."
     Six companies are participating in the launch of DirectDetail. Janus,
 INVESCO, and American Century have DirectDetail sites operating. Starting in
 April, Firsthand, Dreyfus and SchwabFunds will be added to the platform. These
 firms are recognized leaders in the industry and account for over half the
 client assets in Schwab's Mutual Fund OneSource Service. Additional fund
 companies will be invited to participate in DirectDetail in the near future.
     "DirectDetail will greatly benefit investors who do business on schwab.com
 by seamlessly providing them with the most complete and timely information
 available on Janus' funds," said Janus Vice President of Retail Marketing
 Robin Beery.
     "We are continuously striving to facilitate the way clients do business
 with us. DirectDetail provides our clients with yet another resource to make
 informed financial decisions online," said Richard Healey, Senior Vice
 President and Director of Marketing for INVESCO Funds Group.
     "DirectDetail gives American Century the opportunity to provide additional
 insight, investment education and fund information to our current and future
 investors at Charles Schwab," said Mitch Wurzer, Vice President of Investment
 Advisor Sales at American Century. "We feel the tools and information that
 Schwab is developing with the fund companies will greatly enhance their
 customers' investment insight."
 
     Direct Detail:  The Details
     DirectDetail is accessible from www.schwab.com/directdetail, and through a
 variety of other access points throughout schwab.com. Fund companies create
 individual information sites within DirectDetail to provide Schwab clients
 with a convenient single-source mutual fund research tool for their funds. The
 result:  DirectDetail will help Schwab clients make more informed decisions
 about buying, selling, or holding their mutual fund investments.
     Each fund company's individual DirectDetail site provides general
 information, which varies by fund company, but may include fund company
 history, investing philosophy, a summary of funds offered by the fund family
 and access to company news and press releases. Each firm also provides
 specific information on individual funds. Depending on the fund company, the
 information may include fund strategies, manager commentaries, portfolio
 manager profiles, details on top 10 holdings, performance data and statistics,
 and electronic access to fund prospectuses and annual reports.
     "Schwab has once again demonstrated its position on the leading edge of
 the industry, responding to shareholder demand by delivering a well-integrated
 platform for delivering timely information from investment companies," said
 Phil Mosakowski, Vice President of Mutual Fund Marketing, Firsthand Capital
 Management, Inc. "We're excited to be part of the initial roll-out of
 DirectDetail and we welcome this opportunity to enhance our relationship with
 our shareholders."
     "Customer focus is our number one priority at Dreyfus and is a natural
 extension to the marquis services we've offered our shareholders for 50
 years," said Stephen R. Burke, Dreyfus President of Marketing and Advertising.
 "We value our partnership with Schwab and our customer relationships through
 Schwab," Mr. Burke continued. "Dreyfus looks forward to continuing to provide
 excellent service to our customers through DirectDetail."
     Fund companies are using a variety of methods to communicate to Schwab
 fund investors via DirectDetail. INVESCO, for example, uses multimedia
 commentaries from fund managers to provide investment strategies and
 perspectives, as well as current market outlooks.
     Other communications provided by fund companies:
 
     -- American Century's "Investor Education" tab gives detailed information
        from the Financial FYI(R) series produced by the Education and Guidance
        Department of American Century Investments.
     -- The Janus "Research Insights" section provides interesting anecdotes on
        how analysts and fund managers research the stocks that make up their
        funds.
     -- Dreyfus will feature "Market Outlook," a weekly commentary from Chief
        Economist Richard Hoey that will look at the economy, market trends and
        other economic analysis.
     -- Firsthand's "Portfolio Updates" will provide a monthly discussion of
        recent additions to Firsthand portfolios, giving investors an
        understanding of why the stocks were added and what role they will play
        in the portfolio.
     -- For SchwabFunds, the "Fund Facts" section is designed to provide
        investors with a clearer sense of each fund's principal investments,
        while the "In Their Own Words" section offers insights from the
        portfolio managers on a variety of investment topics. The site also
        provides a section where investors can e-mail questions to SchwabFunds.
 
     "We designed the SchwabFunds(R) DirectDetail site to help investors focus
 on the information that really matters, so they can make more informed mutual
 fund investment decisions and keep their portfolios working harder over the
 long term," said Carolyn Stewart, vice president of SchwabFunds Marketing and
 Product Management.
 
     Enhancing Services to Fund Investors
     DirectDetail is one part of Schwab's full-service package of web-based
 products and services that are designed to help mutual fund investors make
 intelligent financial decisions.
 
     -- Advanced Mutual Fund Screener:  The Schwab screener analyzes more than
        10,000 funds listed by Morningstar, Inc., and includes features such as
        screening for funds that beat benchmarks or category averages, risk
        measures, Morningstar ratings and tax efficiency levels. In addition,
        investors can further narrow their fund selection by screening for
        "special criteria" options (such as socially conscious funds or index
        funds).
     -- Fund Details:  Expanded fund reports are available to Schwab customers
        for the more than 10,000 funds listed by Morningstar, Inc. Features
        include:  after-tax returns, load-adjusted returns, a tax efficiency
        scale, and data that allows investors to compare the fund's returns to
        its benchmark index and category average.
     -- Email alerts:  Two mutual fund specific email alerts help keep Schwab
        clients informed about their investments. My Mutual Fund Performance
        Summary Email shows the end-of-month prices, performance and benchmarks
        for each fund symbol a client holds as a position or on a watch list in
        their account, as well as a market summary covering major news and
        events that have impacted the market. The Mutual Funds Select List(TM)
        Email provides a link to the Mutual Fund Select List, a quarterly list
        of historically high-performing funds available through Schwab and
        published by the Schwab Center for Investment Research(R). The email
        will include a link to an article with additional information to help
        them make smarter investing decisions about selecting funds.
     -- Schwab Mutual Fund Select List(R):  The Select List is Schwab's list of
        historically high-performing funds selected by Schwab's Center for
        Investment Research. Funds on the list have been rigorously screened to
        include only those that meet strict performance, risk and cost
        criteria.
 
     "Our clients use Schwab.com to do much of their in-depth mutual fund
 research," said Shaver. "By providing many levels of information -- in the
 form of both quantitative performance data and qualitative research -- we're
 helping clients deepen their understanding of the funds they own. We think our
 clients will benefit from the insights that DirectDetail provides."
 
     About Charles Schwab
     The Charles Schwab Corporation, through Charles Schwab & Co., Inc. (member
 SIPC/NYSE), U.S. Trust Corporation, CyBerCorp Holdings, Inc. and its other
 independent operating subsidiaries, is one of the nation's largest financial
 services firms serving 7.6 million active accounts with $844.8 billion in
 client assets. At the end of 2000, Schwab served 4.3 million online investor
 accounts with $365 billion in assets. Schwab provides a full-service investing
 experience to clients through 415 domestic offices, five regional client
 telephone service centers, the Internet, automated touch-tone telephone,
 automated voice recognition, e-mail, wireless technologies and multi-lingual
 and international offices. About 25% of Schwab's client assets and 10% of its
 client accounts are managed by the 6,000 third-party, fee-based investment
 advisors served through Schwab Institutional. The Charles Schwab, U.S. Trust
 and CyBerCorp Web sites can be reached at "http://www.schwab.com" ,
 "http://www.ustrust.com" and "http://www.cybercorp.com" , respectively.
 
     (Access to Electronic Services may be limited or unavailable during
 periods of peak demand, market volatility, systems upgrade, maintenance, or
 other reasons.)
     Prospectuses containing more complete information, including management
 fees, charges and expenses, are available from Schwab by calling
 800-435-4000, or visiting our Web site. Please read the prospectus carefully
 before investing or sending money. (0001-16792)
 
 SOURCE  Charles Schwab & Co., Inc.