Charles Schwab Investment Management (CSIM), the asset management affiliate of Charles Schwab and Co has launched its first real estate securities fund. The Schwab Global Real Estate Fund specialises in commercial properties worldwide, providing exposure to the expanding global investment sector. "Our new fund is one of only a handful of real estate funds available to individual investors who invest in commercial securities on a worldwide basis," said Evelyn Dilsaver, president and chief executive of Charles Schwab Investment Management. "REITs are structured to deliver ongoing income streams, which should appeal to those looking to create income in their portfolios." The fund's managers will invest primarily in securities of domestic and international commercial real estate investment trusts and other similar REIT-like structures, as well as real estate operating companies. They will select investments based on the proprietary global database and research model developed by Global Real Analytics, a leader in applied real estate analytics and commercial real estate index products. The fund will not invest directly in individual real estate properties. "The opportunity to invest in the global real estate market is growing as more countries adopt a US REIT-like structure," said James Sempere, CSIM's managing director of real estate investments and research. "This fund is designed to give investors access to the best part of that expanding market." The new fund will be in subscription until 30 May and will begin trading on 31 May. Two share classes will be offered: an investor share class with an expense ratio of 1.20 per cent; and Select Shares(R) with an expense ratio of 1.05 per cent and minimum investment of $50,000.