In the first eight months of the year, Fidelity experienced $3.3 billion in net flows to its long-term funds, while American Funds reaped $46 billion and Vanguard $23 billion, the San Francisco Chronicle reports, citing Financial Research Corp. data.

Analysts say there are combined factors hitting Fidelity, including lackluster performance of its high-profile funds, competition from money market and exchange-traded funds, the fact that a number of its funds are closed and its marketing emphasis shift from individuals to retirement plans.

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