Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Vanguard Pulls Even in One Horse Race, But Stays Behind in Another Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, August 27, 2009

Vanguard Pulls Even in One Horse Race, But Stays Behind in Another

by: Armie Margaret Lee

Once again, the media is looking at which fund firm is the top dog based on assets under management. Reuters notes that when ETFs are excluded from the tally, Fidelity is No. 1, but if ETFs are part of the calculation, Vanguard is the tops.

"Excluding ETFs from the count would be like not counting the Prius in Toyota sales figures because it is a hybrid," Vanguard spokesman John Woerth told Reuters, in response to comments made last week by Fidelity president Rodger Lawson that Fidelity has cornered 12.4 percent of the mutual fund market at the end of June.

According to Strategic Insight's Loren Fox, when the count includes ETFs, Vanguard's fund AUM totaled $1.19 trillion at the end of July, while Fidelity had $1.17 trillion.

But the AUM is only half the equation. As fund industry insiders are well aware, at the end of the day, it's all about profits, which are driven by revenues, which, in turn, are driven by two things: AUM and fund price.

Vanguard is the industry's Wal-Mart, while Fidelity is Costco. Also, Fidelity does no use sub-advisors, so management fees stay within its walls. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use