Which few firms won 95% of all mutual fund flows?

Most people are familiar with the 80/20 rule, which says 80% of the spoils go to just 20% of an industry’s leading participants. For mutual funds, it’s the 80/20 rule on amphetamines. According to Strategic Insight, in 2010, 95% of total net cash flows to long-term mutual funds (ie, not counting money market funds) went to just 0.5% of registered products. In the first quarter of 2011, the trend was even more pronounced, with just 200 funds, or 0.3% of the world’s total (out of …