Vanguard Nets $2.6 billion in October Sales
December 4, 2000
The Vanguard Group of Valley Forge, Penn. had net sales of $2.6 billion in October, making it the top selling fund group for the month, according to the Financial Research Corporation of Boston.
MFS Investment Management of Boston and INVESCO Funds Group of Denver, were ranked second and third, with monthly net flows of $2 billion and $1 billion, respectively, according to FRC data. Fidelity Distributors of Boston was fourth, with $869 million in net flows, followed by AIM Distributors of Houston, with $803 million.
Janus of Denver, although the top selling firm year-to-date with $37 billion in net new sales, had $772 million in net outflows during the month of October, making it the second month in a row that Janus experienced net outflows. In September, Janus had net outflows of $46 million, according to FRC.
Vanguard's Institutional Index Plus Fund, which was the top-selling fund in September, continued to rank first in sales, with a net $767 million for October. Year-to-date, however, Fidelity's Growth Company Fund ranked first, with $518 million in sales for October and $8.9 million in sales year-to-date, according to FRC.