News Flash - Schwab OneSource Volume Inches up Scant 1%
June 23, 2003
Charles Schwab's Mutual Fund OneSource fund supermarket volume of 55,700 transactions in May increased 1% from May 2002, but declined 3% from April 2003. Total trades of 199,600 during the month were up 11% from a year ago and up 13% from April 2003.
Although Schwab attracted $2.7 billion in net new assets last month, total assets of $833.5 billion remained flat from a year ago. That was an increase of 4% from April 2003. While saying he could not be sure if the recent rally would continue through the rest of the year and that Schwab would continue to reduce expenses, Schwab CEO David S. Pottruck said he expects the firm's second quarter performance to "show significant improvement" over the prior quarter.
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