What You Need to Know
- It has added five Wasmer Schroeder Strategies: two tax-exempt, three taxable.
- Two of the five are positive impact strategies.
- Schwab now offers 25 Wasmer Schroeder Strategies.
Two days after Schwab Asset Management launched its first ETF focusing on environmental, social and governance factors, it added two fixed income impact strategies to its separately managed accounts offering for clients.
They are part of the asset manager’s Wasmer Schroeder Strategies, named for the company whose taxable and tax-exempt fixed income strategies Schwab acquired in July 2020.
The new impact strategies are the Wasmer Schroeder Positive Impact Bond strategy (PIBX), a taxable, limited duration strategy, and the Wasmer Schroeder Positive Impact Tax Exempt strategy (PIFI), an intermediate duration, high credit quality municipal strategy.
The positive impact strategies focus on identifying bonds that finance projects and initiatives with positive social or environmental impacts, using in-house, rather than third-party ESG ratings or scoring lists, according to Schwab.