Charles Schwab & Co. cracked the $1 billion mark in net sales of domestic stock mutual funds in May.

That set a company record for stock fund sales in a single month since the San Francisco-based discount brokerage began tracking funds by category in 1993, it said.

"It seems like we're following what's happening industry-wide," said spokesman Tom Taggart. "It's just a larger number for Schwab."

The previous high mark for monthly net sales of stock funds was $855.5 million, in August 1994, Mr. Taggart said.

By comparison, net sales of bond funds through May 28 amounted to only $104.5 million. Net sales of all long-term mutual funds through May 28 totaled $1.5 billion.

May's results were built on hefty sales through the company's OneSource and Mutual Fund Marketplace no-load fund supermarkets.

At the end of April, assets held in long-term mutual funds at Schwab stood at $64 billion, up from $50 billion at the end of 1995 and $31 billion at the end of 1994.

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