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Tuesday, October 02, 2012

Vanguard Celebrates a Record Year In Just Nine Months

News summary by MFWire's editors

Bill McNabb and his crew at Vanguard have $113 billion reasons to celebrate so far this year.

The Malvern, Pennsylvania-based mutual fund giant, already the biggest U.S. mutual fund shop by assets, continues to break records. Charles Stein of Bloomberg reports that Vanguard brought in $113 billion in mutual fund and ETF deposits this year through September, beating out its prior full calendar year, pre-crisis record of $104 billion of 2007. The low-cost giant now claims about $1.95 trillion in U.S. fund assets.

By comparison, the $72 billion in mutual fund deposits Vanguard attracted in the first nine months of the year more than the doubled the second place shop, Pimco, according to Morningstar. And according to State Street data, Vanguard also came in first in ETF inflows. 

Edited by: Neil Anderson, Managing Editor

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