Fundsters, your future is worldwide. So says the chief of the biggest mutual fund shop around.
| Frederick William McNabb III|
The Vanguard Group, Inc.
Chief Executive Officer, President, Chairman of the Board of Directors
"The one word to describe our future as an organization, that one word is global," Bill McNabb
, chairman and CEO of Vanguard
and chair of the Investment Company Institute (ICI
), says in his opening remarks this afternoon at the 2016 ICI GMM
at the Washington Hilton in Washington, D.C.
"The world is flat," McNabb adds, citing Thomas Friedman.
McNabb talks about the worldwide impact of ICI's research, the increasing percentage of U.S. investors' portfolios that is allocated internationally, and the recent trend of U.S. financial services regulators taking a cue from their counterparts overseas. ICI's global arm launched five years ago, and going global, McNabb says, is going to be "a big part of the mission" for the trade group.
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