Vanguard has bumped American Funds from its six-year run as the biggest-selling fund company in the U.S. , reclaiming the leading role that Vanguard last held in 2001, the Financial Times writes.

Vanguard benefited from a surge of investment into money market funds in 2007 as risk-averse investors looked to secure their cash, as well as from the company’s push into the exchange-traded funds market, taking its total assets under management to $1.3 trillion.

American Funds has approximately $1.0 trillion AUM and does not have a strong presence in money market funds.

Vanguard, American Funds and Fidelity are by far the three biggest U.S. mutual fund companies. Collectively, the three companies hold more than a third of U.S. fund assets.

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