Both funds will redeem their outstanding shares on or about August 18, 2017 and distribute proceeds to shareholders.

Charles Schwab's investment management unit has said it will liquidate two of its funds. 

Both the Schwab Short-Term Bond Market Fund and Schwab Total Bond Market Fund have been approved for liquidation. 

The funds were closed to new investors on February 22, 2017, and will be closed to all purchases and exchanges as of August 16, 2017, Charles Schwab said in a statement.