Bill McNabb, chief executive officer of the†Vanguard Group, has 130 billion reasons to smile this holiday season. Thatís $130.4 billion to be more precise.
Vanguard Group yesterday said it eclipsed the industryís single-year record for asset inflows in 2012, taking in $130.4 billion in net cash inflow through November 2012. According to a press release, the firm said it outpaced the record held by†J.P. Morgan Chase†in 2008 of $129.6 billion, citing data from†Strategic Insight.
According to the firm, it experienced $72.3 billion of inflows into its equity funds, $6.3 billion in balanced funds, $54.4 billion in bond funds, and outflows of just over $2.5 billion in money market funds. It also saw $46.4 billion of assets flow into its ETFs.