Vanguard Assets Top $1T; American Funds Falters
November 12, 2009 7:46 am
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Index giant Vanguard saw its total net assets under management top $1 trillion in October, closing the month with precisely $1,002 billion, according to new data from Morningstar. The company was helped by strong flows into its fixed-income funds. The Vanguard Total Bond Market Index and Vanguard Short-Term Investment Grade funds were the No. 2 and No. 3 funds in theNot surprisingly, Vanguard and Pimco are the No. 1 and No. 2 firms for total mutual fund inflows through October, with $82 billion and $66 billion, respectively. Interestingly, half of Vanguard’s net inflows have been into its ETFs. Fidelity is third, with $17 billion in inflows. On the flip side, active manager American Funds has seen $21 billion in cash withdrawals this year, as investors pull away from the domestic equity space. Other active managers with heavy concentrations in
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