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Who was the best-selling fund manager of 2016?

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Vanguard has emerged as the most popular asset manager for 2016 after gathering $200bn (£164bn) in client assets, Morningstar data shows.

The US firm, one of the world’s largest fund groups, has attracted more assets than 10 of its competitors, the FT reports.

Including exchange-traded funds, Vanguard’s total inflows for last year was $288bn.

The second-best selling asset manager was French fund house Amundi, pulling in $35bn over the same period, which was around a sixth of Vanguard’s total.

Texas-based fund house Dimensional gathered $23bn, excluding ETFs.

Morningstar markets research manager Timothy Strauts says: “Vanguard is eating the rest of the US fund industry. It is dominating completely. Both its active and passive businesses are doing very well, mainly because [it charges] very low fees.

“I can guarantee you Vanguard will be the biggest-selling [company] of 2017. The US market is all about fees and if you don’t have low fees, you don’t get flows.”

As revealed by Money Marketing in October, Vanguard is to launch a direct-to-consumer proposition this year as well as boosting an active funds offering.

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