Yet another media outlet has picked up on last week's news that Vanguard
] 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
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
], Wiener points out that while the funds remain strong performers, the funds are broker sold and investors are exploring other ways of obtaining advice.
Armie Margaret Lee
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