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August 25, 2016 1 min read

Charles Schwab Corp. has upped the ante in the push to be the lowest-cost provider of target-date retirement funds, launching a new series of target-dated mutual funds on Thursday that edge out Vanguard Group and Fidelity Investments to claim the title as cheapest on the market to date.

The new Schwab Target Index Funds, a passively managed TDF suite built with underlying exchange-traded funds, cost eight basis points and don't have asset minimums, meaning defined-contribution plans of any size can invest in them.

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