Until 2020, Vanguard had collected the most new investor money in target-date funds each year since 2008, according to Morningstar.
In 2020, BlackRock, Fidelity and Vanguard captured about $22 billion, $19.8 billion and $19.5 billion in their most popular TDFs, respectively."We believe it's primarily because of the market drawdown in 2020," she said. "People were a little more hesitant to keep up with their contributions."
Vanguard managed roughly $1.2 trillion of TDF assets at the end of 2021, about 36% of the total market, according to Morningstar. Fidelity managed $460 billion and BlackRock $289 billion . Thomas Barwick | Digitalvision | Getty Images "Low fees ... continue to drive target-date mutual fund flows," the Morningstar report said. "Cheaper mutual fund target-date series have attracted more investor interest than those with higher price tags."
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