Schwab Premier Equity Fund intends to close, reorganize after March 30

By Tali David

Minneapolis, March 13 - The board of trustees of Schwab Capital Trust approved the closure and a plan of reorganization of the Schwab Premier Equity Fund, according to a 497 filed with the Securities and Exchange Commission.

The fund will close to new investors on March 30.

If the reorganization is approved by shareholders at a meeting to be held during the third quarter of 2012, shareholders of the Premier Equity Fund will become shareholders of the Schwab Core Equity Fund, which has substantially the same investment objective and strategies as the Premier Equity Fund.

The reorganization is expected to be tax-free for federal income tax purposes.

The fund's investment adviser is San Francisco-based Charles Schwab Investment Management, Inc.

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