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Tuesday, October 05, 2010

USA Today Examines Vanguard's Crown

News summary by MFWire's editors

Yet another media outlet has picked up on last week's news that Vanguard [see profile] has dislodged Fidelity as the largest fund firm by assets. On Tuesday, USA Today's John Waggoner see profile] reported on the Investment Company Institute's numbers and turned to Dan Wiener, editor of the Independent Adviser for Vanguard Investors, for perspective on Vanguard's feat.

The paper notes Vanguard's flourishing exchange-traded fund business and on the mutual fund side, the pub notes that Vanguard's competitors have stumbled, pointing to the subpar performance of Fidelity Diversified Interntional, Fidelity Magellan and Fidelity Equity Income.

As for American Funds [see profile], Wiener points out that while the funds remain strong performers, the funds are broker sold and investors are exploring other ways of obtaining advice. 

Edited by: Armie Margaret Lee

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