Vanguard Gets Most Money From Mutual Fund Investors in January
Vanguard Group Inc., the world’s biggest mutual fund company, attracted the most money among mutual fund companies in January, according to estimates from Morningstar Inc.
The firm, based in Valley Forge, Pennsylvania, received $13.6 billion, followed by JPMorgan Chase & Co., whose funds won $2.54 billion, Chicago-based Morningstar said today in a report. DoubleLine Capital LP, founded by Jeffrey Gundlach, had the third-highest new deposits, with $2.36 billion.
Investors put $33.9 billion into U.S. mutual funds last month, reversing redemptions of almost $10 billion in December, Morningstar said. Domestic stock funds saw $2.75 billion in withdrawals last month, while taxable bond funds attracted $24.6 billion, the most of any category.
Pacific Investment Management Co., which runs the world’s largest mutual fund, had the fifth-biggest deposits with $1.9 billion. The numbers are for open-end mutual funds that reported as of Feb. 9, and exclude money markets and fund of funds.
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