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.