WASHINGTON Feb 11 The Vanguard Group topped $4
trillion in assets for the first time at the end of January
after a year in which it pulled in more money than all of its
rivals combined, the Wall Street Journal reported.
The newspaper reported on its website late Friday that
Vanguard hit $4.048 trillion in late January. The fund said that
its attracted $322.8 billion in the past year, the report said.
Vanguard's success points to investors becoming
disillusioned with expensive money managers and turning instead
to funds that are not actively managed.
Vanguard is the second largest asset manager, with BlackRock
Inc in first place with more than $5 trillion in assets, the WSJ
(Reporting by Diane Bartz; editing by Grant McCool)