Charles Schwab Investment Management announced it has lowered the minimum initial investment for its mutual funds to $100.
The change was announced Tuesday. It applies to all investor shares of variable net asset value funds in the Schwab Funds family. Previously the minimums ranged from $1,000 to $2,500 depending on the fund and account type.
The new initial minimums complement the San Francisco company's new lower account minimums, which went into effect April 1. The minimum to open nearly any type of account at Schwab is now $1,000, and custodial account minimums are just $100. The $1,000 account minimum is waived entirely for individuals who deposit $100 or more each month through direct deposit or Schwab MoneyLink.
