Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:OneSource Assets Hold Steady Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, April 22, 2003

OneSource Assets Hold Steady

by: Sean Hanna, Editor in Chief

Are the outflows from funds sold through supermarkets slowing? A look at Schwab's earnings report released today suggests that they may be. The San Francisco broker reported that assets in its Mutual Funds OneSource program have remained fairly constant since the third quarter of last year at roughly $70 billion.

The last steep decline in Schwab's supermarket apparently came during the market sell off in September. The broker reported that OneSource assets plunged to $70 billion from nearly $81 billion at the end of the second quarter. OneSource assets had peaked at more than $90 billion at the end of the first quarter of last year.

Since the third quarter assets in the program have held steady. At year-end 2002 Schwab reported $73.6 billion. That figure slipped 2.4 percent to $71.8 billion at the end of this year's first quarter, Schwab officials reported.

Assets of non-Schwab funds held through non-OneSource accounts have stayed steadier. Those accounts have jumped between $66 billion and $80 billion over the past two years.

Meanwhile, Schwab has had little success in building its proprietary funds over the past two years. Assets in its bond and stock funds have held steady at between $25 billion and $30 billion. They finished the first quarter at $27.4 billion, down slightly from $27.7 billion at the end of 2002 despite the addition of a new GNMA fund. The bulk of Schwab's fund assets -- $132.4 at last count -- are parked in its money market funds.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use