American Funds Knocks Vanguard Out Of No. 1 Spot

After months of speculation of when it would happen, American Funds has finally replaced The Vanguard Group as the largest mutual fund firm by assets.

After months of speculation of when it would happen, American Funds has finally replaced The Vanguard Group as the largest mutual fund firm by assets. According to Financial Research Corp. figures, American’s $864.3 billion in assets nosed out Vanguard’s $863.5 billion, thanks to an investor surge of $6.7 billion into American coffers in April. Since Jan. 1, American has fetched $29.4 billion, compared with Vanguard’s $20.9 billion. Fidelity Investments remains in third place with $805.6 billion AUM. Rising fast in the ranks is Barclays Global Investors, which saw a 70% surge in AUM to $206.7 billion, thanks largely to investments in its exchange traded funds, according to FRC.