launched an offshore mutual fund family this week.
Dublin-based Charles Schwab Worldwide Funds launched the Schwab U.S. Dollar Liquid Assets Fund.
The money market fund, which has $137 million of assets, will be linked to a sweep account that allows Schwab's international brokerage customers to invest idle cash overnight, a spokesman said. The company expects to add other funds that emphasize the quantitative and index approach that Schwab uses domestically, the spokesman said.
Schwab plans to sell the offshore funds around the world, the spokesman said. The leading U.S. on-line broker, Schwab has been making inroads in asset management in recent years. It manages $97.2 billion in its domestic Schwab Funds family.