Aug. 26, 2003 — American Funds, the third largest fund complex by assets, topped all fund companies in July with net inflows of $5.7 billion, according to data released by the Financial Research Corp.
The two largest fund families, Vanguard and Fidelity, had net inflows of $844 million, and $1.4 billion, respectively, for the month. Fidelity was the second-best selling fund complex in July.
Domestic equity funds attracted $19.5 billion in new money in July, while certain categories of bond funds suffered defections. In aggregate, stock and bond funds attracted $12.9 billion in net inflows in July, FRC said.