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Rating:JPMorgan was the Top-Selling Fund Family in the Past Year Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, March 16, 2009

JPMorgan was the Top-Selling Fund Family in the Past Year

by: Armie Margaret Lee

JPMorgan was the top-selling fund family in the US in the 12 months ended February, the Financial Times reports, citing Morningstar numbers. JPMorgan funds attracted $140 billion in new money. But excluding money market funds, JPMorgan saw outflows of $1.3 billion.

Not counting money market funds, Fidelity and American Funds both recorded net redemptions of $32 billion. On the other hand, with the money market tally, Fidelity had inflows of $53 billion, according to Lipper numbers.

For its part, Franklin Templeton saw stock and bond outflows of $20 billion. Putnam Investments saw $13 billion in redemptions, Legg Mason had $16 billion in outflows and OppenheimerFunds and Dodge & Cox both had $13 billion in redemptions.

Vanguard pulled in $49 billion in net inflows, of which $10 billion were in money market funds and $39 billion were in its stock and bond funds.

Pimco, meanwhile, posted net inflows of $19 billion mainly because of its Total Return fund. 

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