Podcast Center
Video Center
Webcasts
Resource Center
Events
December 01, 2004 at 07:00 PM
Dec. 1, 2004 — American Funds continued to lead U.S. mutual fund complexes in sales in October, and its Growth Fund of America/A (AGTHX) again was the top selling fund.
American took in about $6.5 billion in assets in October, tops among the 25 largest domestic fund companies, according to Financial Research Corp. Trailing were Vanguard Group, the second largest U.S. fund company, which netted $3.3 billion; Barclays Global Investors Funds ($3.2 billion); Pimco Funds ($1.3 billion); and T. Rowe Price Funds ($1.2 billion).
Four of the five best selling funds were American offerings. Growth Fund of America generated sales of $1.4 billion. The company’s Capital Income Builder Fund/A (CAIBX) and American Balanced Fund/A (ABALX) took second and third place with sales of $1 billion and $917 million, respectively.
They were followed by Franklin Custodian Fds:Income Series/A (FKINX), an asset allocation fund that holds stocks and bonds, which netted $827 million. American’s Capital World Growth and Income Fund/A (CWGIX) took fifth place with sales of $715 million.
