Charles Schwab Corp. said on Thursday that daily average trades on its Mutual Fund OneSource service and other asset-based trades jumped 10% in August from the year-ago period, but fell 4% from July. They averaged 60,100 trades from that group, according to the firm.
Total client assets grew to $982.5 billion as of the end of August, representing a 12% from the same month last year and a 1% gain from July. Net new assets totaled $3.7 billion for the month.
However, average daily revenue trades totaled 118,600 during the month, representing a 6% decline from the same month in 2003 and an 11% drop from last month.