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In Practice January 27, 2011
Vanguard Atop 2010 Fund Managers
The Vanguard Group was the largest fund
manager as of December 31, 2010, according to
Strategic Insight, an Asset International company.
Reported by Rebecca Moore
SI’s “Mutual Fund Management Companies Rankings & Analysis” report listed Vanguard with $1.6 trillion in assets at the end of the year (13.1% of market share), and Fidelity having $1.3 trillion (11.2% of market share). American Funds ($977 billion), BlackRock ($801 billion), and PIMCO/Allianz Global ($461 billion) rounded out the top five of the largest fund managers.
Vanguard also topped the 2010 fund flow ranking, taking in $77.8 billion for the year, followed by PIMCO/Allianz Global which had year-to-date net new flows of $65.1 billion.
According to the SI report, Vanguard held the largest market share of the stock/hybrid and bond fund managers market (15.21%), followed by American Funds (10.41%), and Fidelity (9.57%). However, Fidelity holds the largest share of the money market fund managers market (16.46%), with JPMorgan Funds (10.34%) and Federated (8.67%) rounding out the top three.
When it comes to funds of funds (both lifecycle and non-lifecycle) though, Fidelity pulls ahead of Vanguard with $172.5 billion in assets – more than a quarter (25.89%) of the market share. Vanguard held $119.6 billion in fund of fund assets at the end of 2010 (17.96% of market share), and T. Rowe Price held nearly 10% of the market share, or $65.6 billion.
The top exchange-traded funds manager was BlackRock, with $449 billion in assets (44.61% of the market) as of the end of 2010. State Street Global Advisors held $235 billion in exchange-traded fund assets (23.34% of market share), and Vanguard held $148 billion (14.74% of market share).