Janus Tops Fund Sales Despite Troubles

January 29, 2001 (PLANSPONSOR.com) - Despite a rocky year, Janus replaced Vanguard as the best-selling fund family in 2000, pulling in $37.03 billion in new money, according to Financial Research Corp.

That was up about 3% from the $35.91 billion in new monies the year before. The Janus complex ended the year with some $164 billion in assets, down from $172 billion in 1999, according to Dow Jones. The fund family ranked fifth overall in total assets.

The top three fund families all saw a sharp fall off in new investments. Vanguard’s $22.23 billion cash inflows was good for second, but that was less than half 1999’s $46.13 billion pace. Number three complex American Fund Distributors drew just $3.99 billion, down from $7.52 billion the year before.

Fidelity’s $7.58 billion was down sharply from the $20.34 billion recorded in 1999.

Overall, US mutual funds raked in $175 billion in net sales for the calendar year, up 18% from 1999. However, the slumping stock market pulled the total assets under management down more than 3% to $4.4 trillion.