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Rating:OneSource Generates $680 Million in Revenue for Schwab Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, January 18, 2012

OneSource Generates $680 Million in Revenue for Schwab

Reported by Neil Anderson, Managing Editor

The markets were volatile and ultimately flat in 2011, but that didn't stop Schwab's OneSource mutual fund supermarket business from growing. Today San Francisco-based Charles Schwab [profile] revealed in its fourth quarter and full-year earnings report that revenue from OneSource rose 11.8 percent in 2011 to $680 million, thanks to an 11.7-percent bump in average assets on the platform to $210.907 billion.

Schwab's own equity and bond mutual fund business also grew in 2011. Average assets climbed 17.2 percent to $41.347 billion, and revenue rose 3.5 percent to $118 million.

Meanwhile, with interest rates staying low, Schwab upped its money market mutual fund fee waivers almost 31.2 percent last year to $568 million. Combined with a 2.8 percent drop to an average of $153.478 billion in client assets for 2011, the increased fee waivers drove Schwab's net money market mutual fund revenue down 31.3 percent to $297 million. 

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