Charles Schwab’s first-quarter earnings decline of 68 percent is more the result of declined trading by personal investors and less the result of any fluctuations affecting its mutual fund unit, according to a company spokesperson.

Total client assets among Schwab’s mutual fund investors were $325 billion at the end of March, said Lance Berg, the spokesperson. That figure represents a decline of $3 billion from last year’s first-quarter figure of $328 billion.
“Net assets coming in are still relatively strong,” Berg said. “What we see is people are not trading the way they did last year and as a result revenue, is not at that same level.”

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