Schwab Reports Monthly Activity Highlights
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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)
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