Schwab is seeking to close three Yield Plus portfolios, MutualFundWire reports. The San Francisco brokerage firm has filed with the authorities to shut the Schwab YieldPlus Fund, the Tax-Free YieldPlus and the California Tax-Free YieldPlus funds. The YieldPlus portfolio holds a total of $138.1 million and the Tax-Free YieldPlus holds $17.9 million, while the California Tax-Free portfolio holds $47.4 million. The portfolio will be shut down on Aug. 22, 2011.
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