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MFWire: Vanguard Funds and ETFs
MUTUAL FUND FAMILY PROFILES [BETA]
To Update this information contact Editors@InvestmentWires.com or call Armie Lee at 212-331-8995 x111.
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Vanguard Group, The
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100 Vanguard Blvd
Malvern, PA 19355
Google Maps
Contact
Main Phone: 800-523-1036
Web Site:
http://vanguard.com/
Mutual Fund Brand(s)
Vanguard Funds and ETFs
Research Links
SEC Fund Filings by CIK
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Background:
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The only mutually-owned mutual fund firm, the Vanguard Group of Mutual Funds is known for its index funds and low-cost actively managed funds. Typically, its actively managed funds rely on subadvisors for their portfolio management. Its ownership structure, use of subadvisors and scale as an indexer have enabled Vanguard to build a reputation as the lowest cost mutual fund provider while propelling it to become (by 2015, if not earlier), in the words of one industry watcher, "the most dominant fund company in history." As of the end of 2016, that dominance shows now signs of slowing down.
That low-cost philosophy has dictated aspects of Vanguard's strategic evolution. Because its funds carry no distribution fees or 12b-1 charges, it does not pay revenue sharing to distribution partners. In the 401(k) market, Vanguard traditionally limited offering its recordkeeping services to the large plan market where plans are sold directly. Yet Vanguard now also partners with Ascensus to reach small market 401(k) plans via TPAs and advisors.
On the retail side of its business, its funds carry larger-than-average minimum purchase requirements as its low revenue per dollar of AUM make very small accounts unprofitable.
Vanguard's roots date to 1928 when Walter L. Morgan founded the Wellington Fund. Vanguard itself was founded by John "Jack" Bogle in September 1974 to act as the advisor to the Wellington Fund. In January of that year Wellington Management had fired Bogle as its CEO and president. However, the independent board of the Wellington Funds had voted to retain Bogle as the mutual funds chairman.
Bogle brought his vision of low cost investing and indexing along with an innovative ownership structure to what he called his "Vanguard experiment". Since its founding Vanguard has been mutually owned by the shareholders in the mutual funds that it sponsors. That ownership structure remains unique among major fund firms.
Its first mutual fund was the Vanguard Wellington Fund for which Wellington served as the subadvisor.
Vanguard did not launch its first index fund -- First Index Investment Trust (now Index 500) -- until 1976, nearly two years after its founding.
Vanguard hires subadvisors to manage its non-indexed funds.
In 1977 Vanguard dropped sales-loads on its funds and adopted a direct-sold distribution strategy. That year it also adopted a "defined maturity" structure for its bond funds, dividing its funds into short, intermediate and long-term portfolios. A year later it began managing a portion of its fixed income investments in-house rather than through a subadvisor.
In 2000, Vanguard created the Admiral share class to pass on the lower costs of administering large balance accounts to those shareholders.
Jack Brennan took the CEO reins from Bogle in 1999. William McNabb succeeded Brennan as CEO at the end of August 2008.
Employees at Vanguard are known as "crew" members and the fund firm's headquarters is known as the "shipyard" and even the dining rooms are known as "galleys". The motif and Vanguard's name derives from Lord Horatio Nelson's fleet at the battle of the Nile. Nelson's flagship at the battle was theHMS Vanguard.
The low-cost juggernaut now manages over $3.5 trillion as of June 30, 2016.
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Sponsored Opportunities
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Key People:
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Tim Buckley
President, Chief Investment Officer, CEO-Elect, The Vanguard Group | Bill McNabb
Chairman, Outgoing CEO, The Vanguard Group | Tom Rampulla
Managing Director, Head of U.S. Financial Intermediaries Business, Vanguard | Martha King
Managing Director, Institutional Investor Group, Vanguard | Chris McIsaac
Managing Director, Planning and Development Group, Vanguard Group, The | Karin Risi
Managing Director, Retail Investor Group, Vanguard Group, The | Anne Robinson
General Counsel, Vanguard Group, The | Mike Rollings
Chief Financial Officer, Managing Director of the Finance Division, Vanguard Group, The | Jim Norris
Managing Director of International Operations, The Vanguard Group | Glenn Reed
Managing Director, Strategy Division, The Vanguard Group | Kathy Gubanich
Managing Director, Human Resources, The Vanguard Group | Pauline Scalvino
Head of Corporate Strategy, Vanguard | Melissa Nassar
Principal, Retail Investor Services: Business Development Group, Vanguard | John Marcante
Head of Information Technology, Vanguard Group, The |
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Story Archive for Vanguard Group, The
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Published On
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Story Headline
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Publication |
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7/24/2017
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Filings for Fundsters - July 24, 2017
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Vanguard and BlackRock Stay on Top While SSgA's Flow Woe Reverses
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The $4.4T Man Exits As the Good Times Keep Rolling
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7/6/2017
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Are Index Funds Uncaring? McNabb Fires Back
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6/29/2017
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Vanguard Retakes the Lead, and Schwab and Oakmark Also Rake It In
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6/14/2017
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Follow the Fundsters - June 14, 2017
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6/13/2017
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Watch For Vanguard to Staff Up Here
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5/26/2017
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5/22/2017
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Filings for Fundsters - May 22, 2017
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5/17/2017
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Schwab and Guggenheim Had a Huge April, and BlackRock Nudges Past Vanguard
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5/16/2017
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Follow the Fundsters - May 16, 2017
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These Fund Firms and B-Ds Are Seen as Great Employers
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The New Fund Fuss - May 4, 2017
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Morgan Stanley Cuts Off Vanguard, Except ...
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5/1/2017
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Week In Preview: ICI GMM and More
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4/28/2017
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M* Shares High Hopes For These Nine Managers
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4/24/2017
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Week In Preview: Early M* in Chitown, Gemini in the Big Easy
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4/18/2017
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A Breath of Hope For the Other Fund Firms
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4/17/2017
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Week In Preview: Fundsters Gather in NYC and Directors in DC
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4/6/2017
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Ivascyn Regains One of Pimco's Old Crowns, With a Newer Fund
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4/4/2017
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ETF Inflows Quadruple and Stay Concentrated
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4/3/2017
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Previewing Tiburon and More in NYC, NICSA in Beantown
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3/31/2017
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SSgA's SHE Sweeps
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3/24/2017
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Vanguard, Nuveen, and Morgan Stanley Win Big in Gotham
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3/20/2017
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Filings for Fundsters - March 20, 2017
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3/17/2017
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13 Fund Firms Had a $1B February
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2/27/2017
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The $4T Firm and the $1T Biz
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2/21/2017
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TIAA and Passive Players Won January
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1/31/2017
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TD's Nally Gathers a Record Crowd in SoCal
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1/27/2017
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Filings for Fundsters - January 27, 2017
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1/24/2017
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Will ETF Shops Pay $50K or More For Wirehouse Data and Access?
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1/20/2017
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Will You Help Elizabeth Warren Save the Fiduciary Reg?
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1/19/2017
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Vanguard, BlackRock, and SSgA Won 2016
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1/19/2017
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71 Percent of Big Fund Firms Suffered in December
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1/12/2017
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And the 2016 Fund Manager of the Year Nominees Are...
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1/6/2017
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Filings for Fundsters - January 6, 2017
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1/3/2017
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A Record Year, On Multiple Levels
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12/30/2016
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The Most Popular MFWire Stories of 2016
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12/27/2016
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State Street Beat Out Vanguard in November
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12/27/2016
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How Do You Compete In the Age of Vanguard?
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12/14/2016
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2016's Fastest Growing ETF Shop Is ...
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11/25/2016
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Filings for Fundsters - November 25, 2016
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11/25/2016
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The Mother and Father of Index Funds Push Back
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10/25/2016
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Fundsters Meet in Beantown as Directors Meet in Chitown
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10/20/2016
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The New Fund Fuss - October 20, 2016
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10/19/2016
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Aberdeen and OpFunds Win Big in Chicago
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10/14/2016
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The New Fund Fuss - October 14, 2016
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10/12/2016
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People on the Move - October 12, 2016
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10/11/2016
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Clark and Vanguard Lead the ETF Strategist Pack
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10/10/2016
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ETF Shops Rake In $6B Per Year
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10/3/2016
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Filings for Fundsters - October 3, 2016
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9/29/2016
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Filings for Fundsters - September 29, 2016
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9/16/2016
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Big ETF Shops and Lord Abbett Shined in August
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A Triumphant Bogle Predicts a Giant Fund Firm Deal
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9/1/2016
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The Big Index Mutual Fund Four-Oh
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8/30/2016
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Can Pershing and Lockwood Kickstart FAs' Offerings For Smaller Investors?
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8/18/2016
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Filings For Fundsters - August 18, 2016
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8/16/2016
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Filings For Fundsters - August 16, 2016
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8/15/2016
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Four Firms Dominated July Inflows
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8/9/2016
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The Billion-Dollar Share Class
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7/19/2016
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Only One Category of Active Funds Won In June
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6/17/2016
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Three Fund Firms Brought In More than $2B Each In May
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6/16/2016
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M* Investment Conference 2016 In Pictures
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6/15/2016
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McNabb Predicts a Fee Crunch ... For FAs
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6/10/2016
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M* 2016 Preview
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5/19/2016
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These Two Fund Firms Are the Most Important
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5/18/2016
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McNabb to ICI: Think Global
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5/17/2016
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ICI GMM 2016 Is About to Begin
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5/16/2016
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Seven Months and Counting: Vanguard Is Still On Top
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4/27/2016
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A Dozen Fund Firms Win in Gotham
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4/20/2016
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The Most Successful Money Managers Are Actually Something Else
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4/14/2016
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DoubleLine, AB, and BlackRock Killed It In March
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3/24/2016
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Don't Launch Target Date Funds; Join Them
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3/23/2016
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101 Fund Families Win in Gotham
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3/18/2016
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DoubleLine and AB Crush It
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3/17/2016
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Two ETF Strategists Dominated 2015
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3/17/2016
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GSAM and WisdomTree Win Big in the Big Apple
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3/15/2016
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Pimco, BlackRock, and Janus vs ... Everybody Else?
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3/14/2016
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Reopen These Funds!
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3/11/2016
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Prepare For ICI's MFIM 2016!
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2/10/2016
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One Subadvisor Leaves a $10B Vanguard Fund
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2/3/2016
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Abby Johnson, Larry Fink, and Tim Armour All Walk Into a Bank ...
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1/28/2016
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Keep an Eye on AB, Guggenheim, and Janus
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1/26/2016
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Lovelace Wins, And Another Fund Giant Wins Twice
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1/22/2016
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Presidential Contenders Prefer This Fund Family
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1/20/2016
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iShares, SSgA, and WisdomTree Lead This Pack
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1/19/2016
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Which Fund Firm Won 2015?
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1/12/2016
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PMs For 12 Fund Firms Catch M*'s Eye
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1/8/2016
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If Vanguard's Mutual Funds Aren't Cheap Enough For 401ks ...
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12/16/2015
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M*: Vanguard and iShares Have Dominated This Year
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12/11/2015
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Which ETF Players Are Growing Fastest?
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12/10/2015
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RIABiz to Vendors: Shape Up!
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11/17/2015
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The World's Largest Fund Firm Is Worth Just $250MM. Wait, What?
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11/16/2015
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Vanguard Retakes the Lead
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10/19/2015
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For the First Time In 2015, Somebody Beat Vanguard
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9/25/2015
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More Than 2,000 Advisors Converge on Beantown
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9/17/2015
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12 Fund Firms Suffer More Than $1B In Outflows, Each
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9/1/2015
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After F-Squared's Fall, Which ETF Strategists Are Flying High?
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8/14/2015
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SSgA Turns Its Flows Around, In a Big Way
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8/7/2015
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Who Rakes In the Most Flows Per Fund? The Answer Won't Surprise You
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7/21/2015
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A 26-Year Company Vet Accuses Vanguard of Discrimination
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7/20/2015
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WisdomTree, JPMAM, and DoubleLine Had a Big June
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7/13/2015
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This Is What Goldman Paid Buddy Donahue ... and This Is How He Invests
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7/9/2015
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These Four Shops Dominate YTD 2015 ETF Inflows
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6/18/2015
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WisdomTree and SEI Won Big In May
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6/8/2015
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16 Fund Firms Meet This Fantastic M* Threshold
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6/8/2015
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Vanguard Pays Better Than Seaman's Wages, But Not Vampire Squid Money
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5/19/2015
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111 Percent of Net Inflows Last Month Went Into Just Two Firms
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5/11/2015
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Fund Fees Fall, and Still the NYT Complains
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5/5/2015
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The World's Biggest Bond Mutual Fund Now Is ...
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4/22/2015
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USAA Preps ETFs A La Vanguard, With a Twist
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4/17/2015
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7 Titans Swallow 88 Percent of Inflows
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4/1/2015
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Cap Group, Fidelity, and Pimco Break Out the Champagne
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3/27/2015
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And the Winners Are ... Empower, Vanguard, and Many More
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3/26/2015
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Will Hodge Wear Sunglasses For M*?
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3/26/2015
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"The Most Dominant Fund Company In History"
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3/12/2015
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McNabb Reorgs Vanguard's Channel Chiefs
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2/24/2015
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Keep an Eye On Putnam and Three Others
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2/19/2015
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Two Vanguard ETF Gurus Will Power Another Shop's Charge
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2/17/2015
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Vanguard, TCW, and DoubleLine Win January
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1/26/2015
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White Powdery Substance Found at Vanguard
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1/21/2015
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Dodge and Cox, JPMAM, Legg Mason, Robeco, and Vanguard Win Big
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1/14/2015
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MetWest and Vanguard Had 2014's Hottest Funds
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1/7/2015
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This Is the Stock Fund to Beat in 2015
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1/5/2015
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Which PMs Will Win? Here's M*'s 2014 Short List
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12/12/2014
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Vanguard and iShares Have 8 of the 10 Hottest ETFs
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12/1/2014
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I SPY the 2nd Largest Mutual Fund
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11/21/2014
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The Ten Biggest Fund Shops Now Control 58 Percent of the Assets
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11/21/2014
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Fundsters Tackle YouTube, Though Not Its Social Aspects
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11/20/2014
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Funds From MetWest, Dodge & Cox, BlackRock, DoubleLine and Baird Rake It In
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11/20/2014
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M* Smiles On Gotham, Hancock, Robeco, TFS and Vanguard
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10/27/2014
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Alger, American Century, ClearBridge, Harris, Longleaf, Parnassus and Primecap Look Like M* Winners
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10/22/2014
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OppFunds, Putnam, Aberdeen and U.S. Global See STARS in Chitown
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10/7/2014
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What Keeps Bill McNabb Up At Night?
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9/26/2014
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Bogle Reflects on an Innovation not Copied
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9/19/2014
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Vanguard, Or All the Hedgers?
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7/28/2014
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Is Vanguard a Billion Dollar Tax-Dodger?
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5/13/2014
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Bogle Had His "Folly," What's Yours?
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5/2/2014
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Saint Jack Preaches from a Real Pulpit
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2/12/2014
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Vanguard Joins the ETF Education Wars
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1/13/2014
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BlackRock Wins 2013 ETF Race By a Nose
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1/8/2014
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Rekenthaler Writes on What Makes Dimensional Different
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1/6/2014
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Kinnel Dubs 2013's Top 11
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1/6/2014
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WSJ Looks at What Happened in 20th Year of ETFs
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