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February 01, 2005 at 07:00 PM
Jan. 26, 2005 — American Funds took in more money than any other domestic fund family last year, topping rivals like giants Fidelity Investments and Vanguard Group.
American Funds took in an estimated $83.7 billion of the $242.1 billion that investors sent to the largest 25 U.S. fund families in 2004, according to Financial Research Corp.
Eight of the 20 best selling funds last year were American funds, including the top five sellers. Heading the list was Growth Fund of America, which garnered about $20 billion.
Vanguard, the largest U.S. fund company, according to FRC data, attracted $51.3 billion in 2004, trailing only American Funds, while Fidelity, the second-largest fund complex, netted about $22.6 billion. Barclays Global Investors, one of the two largest providers of exchange-traded funds, placed third among the best selling families, attracting $43.8 billion.
