In the wake of the mutual fund scandal, exchange traded funds (ETFs), small niche managers and fund groups not implicated in the scandal have been raking in assets and pumping up their relative market share of the industry's $5 trillion in non-money market assets.

Right now, the three largest mutual fund companies, Vanguard Group, Fidelity and American Funds, have a collective lock on more than one-third (34.9%) of the industry's assets. Each has seen assets increase by double-digits, percentage-wise, since the scandal began, data from Financial Research Corp. shows.

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