Vanguard Group had $35.5 billion in net flows in 2001, the most of any fund complex by more than $12 billion, according to data released today by Financial Research Corporation. Vanguard, which finished second in 2000 with net flows of $21.9 billion, has led the industry five of the past six years.

American Funds, which led all firms in net flows in December with $2.9 billion, was second overall in 2001 with flows of $23.4 billion, according to FRC. PIMCO was third in 2001 with $14.8 billion, and Fidelity was fourth with nearly $10 billion.

In 2000, Janus dominated the year’s flows capturing $37.0 billion. Things turned around dramatically for the firm in 2001, however. Last year, the firm experienced net flows of –$12.2 billion. Other significant drop-offs include Putnam, which had $17.5 billion in net flows in 2000 and –$4.5 billion in 2001, and AIM, which went from $14.3 billion to –$3.2 billion, according to FRC.

The $15.8 billion PIMCO Total Return fund drew in $8.1 billion in 2001, the most of any fund last year, according to FRC. American Funds’ $40 billion Growth Fund of America had the second highest net flows last year with $6.9 billion.

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