And the biggest mutual fund company is...

Vanguard has pulled off quite a coup: it has wrestled the title 'biggest selling mutual fund company' away from American Funds. And it has done so by sticking to its knitting. Vanguard raked in $45.6 billion in fresh money in the January-June period. American Funds came in a close second with $43 billion in net inflows, according to Financial Research Corporation. This was the first time in four years that American Funds has not been in the top spot, notes the Financial Times. Vanguard has won with its traditional focus on indexes, both funds and ETFs, combined with ultra-low costs. Vanguard's ETFs average a 0.18 percent expense ratio, vs. 0.41 percent for the industry. Tellingly, Barclays came in third. All this makes me wonder: Where the heck is Fidelity?  

For more:
- here's the article from The Financial Times