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Rating:Vanguard's McNabb Wants to Soup Up His Menu Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, March 28, 2014

Vanguard's McNabb Wants to Soup Up His Menu

News summary by MFWire's editors

For years, Vanguard has been rocking the world with low cost. Now the firm's CEO wants to rock it with low cost plus.

In a CNBC, Bill McNabb is reportedly closely watching the development of smart beta strategies to build out from its index products.

In the CNBC story, McNabb had this to say:

It's just another way of doing active management. It's maybe a lower cost way of doing active management and that's what gets our interest.

To bolster this point, McNabb noted that 40 percent of his firm's $2.75 trillion in assets are in active funds.

He had this to say on the subject in the CNBC story:

We think active and passive can work together, but the key point is we believe in low-cost active. If you have a high-cost active fund, it's a loser's game.

And the hits just keep on coming for active managers. 

Edited by: Tommy Fernandez


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