RIAs Favorite Fund Firms Remain Vanguard, Fidelity and Pimco
Fund houses Vanguard, Fidelity and Pimco remain the most popular fund firms among RIAs, according to a recent study from research firms Market Strategies International and Morpace cited by InvestmentNews.
Just as they did in 2016, the three fund complexes attracted the most “purchase consideration” from RIAs, the study found, according to the publication. Purchase consideration measures how respondents intend to invest based on the top three responses to aided consideration questions as well as mentions arising from unaided consideration, InvestmentNews writes. Asset managers are interested in reaching RIAs because they’re now responsible for half of advisor-managed mutual fund dollars, Market Strategies International and Morpace say in a press release cited by the publication.
Among other fund firms, Dimensional Fund Advisor rose from sixth place in 2016 to fourth place in 2017, the study found, according to InvestmentNews. T. Rowe Price and American Funds slipped one spot each, to fifth and sixth place respectively, the research firms found, the publication writes.
BlackRock and DoubleLine also dropped a spot each, to eighth and ninth place respectively, according to the study cited by InvestmentNews. Dodge & Cox stayed in 10th place from 2016 to 2017, the researchers found, according to the publication.