MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, January 18, 2012 OneSource Generates $680 Million in Revenue for Schwab 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. Printed from: MFWire.com/story.asp?s=38874 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |