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 Fund Strategy’s sister title Money Marketing in October, Vanguard is to launch a direct-to-consumer proposition this year as well as boosting an active funds offering.