Vanguard Group, American Funds and Fidelity were the top three selling fund complexes for the month of July, according to preliminary sales data issued yesterday by Financial Research Corporation of Boston.
For the month Vanguard, American Funds and Fidelity attracted $2.4 billion, $2.1 billion and $767 million in net flows, respectively.
For the year, Vanguard continued to outpace the rest of the industry, netting $21.4 billion in net new assets, almost double the amount that American Funds, the second best firm in terms of year to date flows, has generated.
Vanguard also took honors in July for having the top-selling fund. Its GNMA fund attracted $685 million in new flows. American Funds Growth Fund of America was next with $637 million and the Fidelity Low-Priced Stock Fund was third with $492 million.