Charles Schwab Investment Management is readying another in-house fund based on its proprietary Equity Ratings system.

The Schwab Large-Cap Growth Fund, available on October 3, will be offered in two share classes. Investor Shares will have an operating expense ratio of 120 basis points and a $2,500 minimum investment, while Select Shares are available with an expense ratio of 99 basis points and a $50,000 minimum investment.

The fund will also be used in Schwab Portfolios, the firm's fund-of-funds managed account product.

The fund will be managed by Vivienne Hsu, senior portfolio manager for Charles Schwab Investment Management, and Larry Mano, vice president and senior portfolio manager.

"We believe our fund is a great option for the growth portion of their portfolio because, unlike other funds, we combine active management with the objectivity and discipline of Schwab Equity Ratings to provide investors with a sensible approach to growth investing," said Hsu, in a statement.  

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