Under McNabb, Vanguard more than tripled in size as investors embraced the low-cost index funds for which it is best known.
Active funds that buy international stocks attracted inflows of $8.7 billion and active funds that buy bonds gathered $106.5 billion.
The chief executive of T. Rowe Price Group is doubling down on stock picking.
FPA Capital Fund says ETFs have distorted stock prices and created the potential for a market selloff.
Higher-cost funds are geared toward institutions; lower-cost funds are aimed at retail investors.
Businesses are in a holding pattern to see if Trump succeeds in implementing his economic agenda, he says.
Money managers, squeezed as investors flock to low-cost index funds, are cutting deals.
But it's not only index funds that are getting the money.
Investors pulled $67 billion from active mutual funds while adding $70.6 billion to passive in November.
The Malone fund comes as more ETFs take a laser focus on small niches.
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