Schwab Reports Monthly Activity Highlights

Monday, September 15, 2008 5:45 am PDT

Dateline:

SAN FRANCISCO

Public Company Information:

NASDAQ:
SCHW

SAN FRANCISCO--(BUSINESS WIRE)--The Charles Schwab Corporation released its Monthly Market Activity Report today. Company highlights for the month of August 2008 include:

  • Net new assets brought to the company by new and existing clients in August 2008 totaled $7.7 billion.
  • Total client assets were $1.398 trillion as of month-end August, up 1% from August 2007 and flat to July 2008.
  • Client daily average trades were 269.7 thousand in August 2008, down 12% from August 2007 and down 20% from July 2008.

About Charles Schwab

The Charles Schwab Corporation (Nasdaq:SCHW) is a leading provider of financial services, with more than 300 offices and 7.3 million client brokerage accounts, 1.3 million corporate retirement plan participants, 377,000 banking accounts, and $1.4 trillion in client assets. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, http://www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through its Schwab Institutional division. The Charles Schwab Bank (member FDIC) provides banking and mortgage services and products. More information is available at www.schwab.com.

The Charles Schwab Corporation Monthly Market Activity Report For August 2008
 
        2007         2008        

 

     

% change

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Mo.

 

Yr.

 
Change in Client Assets
(in billions of dollars)

Net New Assets (1)

14.7 9.1 11.7 12.1 15.7 11.1 12.5 17.7 3.8 12.2 10.0 10.4 7.7 (26 %) (48 %)
Net Market Gains (Losses) 4.4     41.8     31.4     (50.4 )   (15.7 ) (60.6 )   (17.8 )   (15.4 )   42.1     17.8   (82.0 )   (16.0 ) (1.4 )
 
Total Client Assets
(at month end, in billions of dollars) 1,389.8     1,440.7     1,483.8     1,445.5     1,445.5   1,396.0     1,390.7     1,393.0     1,438.9     1,468.9   1,396.9     1,391.3   1,397.6   -- 1 %
 
New Brokerage Accounts
(in thousands) 64 57 75 74 78 94 69 83 94 67 65 64 57 (11 %) (11 %)
 
Clients (at month end, in thousands)
Active Brokerage Accounts 6,922 6,940 6,974 7,013 7,049 7,093 7,119 7,162 7,206 7,232 7,256 7,272 7,287 -- 5 %
Banking Accounts 200 212 229 247 262 286 302 318 332 344 355 367 377 3 % 89 %
Corporate Retirement Plan Participants 1,167 1,169 1,182 1,185 1,205 1,256 1,263 1,271 1,284 1,286 1,291 1,306 1,315 1 % 13 %
 
Market Indices (at month end)
Dow Jones Industrial Average 13,358 13,896 13,930 13,372 13,265 12,650 12,266 12,263 12,820 12,638 11,350 11,378 11,544 1 % (14 %)
Nasdaq Composite 2,596 2,702 2,859 2,661 2,652 2,390 2,271 2,279 2,413 2,523 2,293 2,326 2,368 2 % (9 %)
Standard & Poor's 500 1,474 1,527 1,549 1,481 1,468 1,379 1,331 1,323 1,386 1,400 1,280 1,267 1,283 1 % (13 %)
 
Clients' Daily Average Trades
(in thousands)
Revenue Trades (2) 266.2 231.5 277.3 297.2 250.7 311.2 242.7 268.1 250.6 258.4 255.3 282.1 227.0 (20 %) (15 %)
Schwab Investor Services (3) 20.5 21.3 20.1 21.1 23.4 24.8 21.9 23.1 22.2 24.1 19.7 24.0 20.8 (13 %) 1 %

Schwab Institutional® (3)

20.2 17.4 20.1 24.9 22.2 32.0 23.5 28.0 21.5 20.9 22.0 29.4 20.6 (30 %) 2 %
Schwab Corporate & Retirement Services (3) 1.2     1.2     1.2     1.2     1.4   1.5     1.3     1.3     1.2     1.3   1.2     1.4   1.3   (7 %) 8 %
Total 308.1     271.4     318.7     344.4     297.7   369.5     289.4     320.5     295.5     304.7   298.2     336.9   269.7   (20 %) (12 %)
 
Daily Average Market Share Volume
(in millions)
NYSE 1,883 1,378 1,324 1,630 1,320 1,927 1,514 1,727 1,310 1,218 1,400 1,531 1,081 (29 %) (43 %)
Nasdaq 2,334     1,921     2,166     2,367     1,900   2,696     2,344     2,294     1,982     2,069   2,261     2,355   1,894   (20 %) (19 %)
Total 4,217     3,299     3,490     3,997     3,220   4,623     3,858     4,021     3,292     3,287   3,661     3,886   2,975   (23 %) (29 %)
 
Mutual Fund Net Buys (Sells) (4)
(in millions of dollars)
Large Capitalization Stock 26.8 337.0 240.6 (327.5 ) (130.3 ) (721.5 ) 819.1 (69.3 ) 689.1 738.5 284.5 (1,024.5 ) (88.2 )
Small / Mid Capitalization Stock (362.7 ) (2.9 ) (73.8 ) (641.9 ) (1,009.5 ) (1,168.7 ) (17.2 ) (410.0 ) 10.9 215.8 277.2 (306.5 ) 392.9
International 235.7 663.1 842.2 (80.6 ) 262.5 (800.2 ) 283.1 (229.8 ) 262.1 800.7 (184.6 ) (1,036.8 ) (743.9 )
Specialized (289.1 ) 78.6 154.3 (191.3 ) (132.1 ) 53.0 206.6 (230.2 ) (20.7 ) 164.4 133.5 (192.1 ) (106.3 )
Hybrid (47.4 ) 202.1 179.6 117.9 199.2 202.0 601.8 457.2 457.1 405.7 273.0 227.1 289.5
Taxable Bond (1,908.9 ) 98.1 953.3 (379.4 ) (585.3 ) 1,407.0 1,047.6 (845.3 ) 582.0 1,113.1 344.2 440.9 487.7
Tax-Free Bond (267.4 ) 111.1 96.7 (152.1 ) (519.1 ) 204.1 (31.6 ) 10.9 158.6 459.4 358.4 179.7 263.4
Money Market Funds 6,490.9 876.8 4,280.3 8,244.8 7,942.0 7,632.2 3,996.8 5,478.6 (7,347.2 ) (3,956.8 ) (2,378.1 ) 4,958.3 506.7  
 
 
(1) August 2007 includes an inflow of $3.3 billion, related to a mutual fund clearing services client.
(2) Includes all client trades that generate either commission revenue or revenue from principal markups (i.e., fixed income); also known as DART.
(3) Includes eligible trades executed by clients who participate in one or more of the Company's asset-based pricing relationships.
(4) Represents the principal value of client mutual fund transactions handled by Schwab, including transactions in proprietary funds. Includes institutional funds available only to Investment Managers.

Contact:

Charles Schwab
Greg Gable, 415-636-5847 (Media)
Rich Fowler, 415-636-9869 (Investors/Analysts)

Corporate Public Relations
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888-767-5432

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