'American' No.1 in int'l funds, says study

American Funds' offerings led the international category in the first quarter, says Cerulli Associates.
JUN 06, 2007
American Funds grabbed the top spot on the list of top 10 international funds during the first quarter, according to Cerulli Associates. The Los Angeles-based firm garnered 20.4% of the market share during the first three months of the year, up from 18.6% in 2006. Last year, the company also made the top of the list. “American Funds’ products are always popular among advisers and broker-dealers, although they are not inclined to roll out new funds,” said Jing Sun, CFA and analyst at Cerulli. On the other hand, Fidelity, the number two company with 8.6% market share, has a legacy of international funds, but it continues expanding its lineup, Ms. Sun noted. Fidelity Diversified International, the Boston firm’s second largest fund, has assets approaching $54 billion—even though it’s closed to new investors. “The fund’s strong long-term performance certainly helped garner flows,” Ms. Sun said.

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