Last year will be one that the mutual fund industry would like to forget and no where will the wish to forget be stronger than at T. Rowe Price, where asset flows took a severe plunge of 62 percent, from $9.14 billion to $3.48 billion, according to the Financial Research Corporation in Boston.

Despite the drop in asset flows, Rowe's total assets climbed 16 percent, from $78.1 billion to $90.7 billion, securing a place in the top five in FRC's best-selling funds list behind Fidelity Investments ($520.5 billion), Vanguard Group ($384.1 billion), American Fund Distributors ($268.1 billion) and Putnam Investments ($183.8 billion.)

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