Vanguard, Putnam Lead Mutuals

Sat., Sept. 14, 1996

Bloomberg Business News

Vanguard Group and Putnam Investments are the biggest beneficiaries of this year’s record-breaking mutual-fund sales.

Narrowing the lead still held by Fidelity Investments, Vanguard funds attracted 14 percent of all net new investments in U.S. mutual funds in the first seven months of 1996, Lipper Analytical Services Inc. said. That’s up from 10 percent of the new money Vanguard got in all of 1995.

Putnam won 8 percent of new fund inflows in the seven-month period, compared with a 3 percent market share for all of last year, Lipper said.

“Vanguard and Putnam are the big winners of 1996 in what’s turning out to be the industry’s best year ever in terms of sales,” said A. Michael Lipper, the research group’s president.

The latest rankings show Vanguard as the No. 2 mutual fund group and Putnam No. 3 in terms of market share in the first seven months this year.

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Vanguard, Putnam Lead Mutuals

Jesse Tinsley

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