Founder of Vanguard, which manages $5 trillion of assets, dies at 89
John Bogle, the Founder of Vanguard Group who popularised low-cost index funds, died of oesophageal cancer on Wednesday at the age of 89. Vanguard is now the world's biggest mutual fund firm with around $5 trillion in assets under management. Bogle, who founded Vanguard in 1974, survived at least six heart attacks and received a heart transplant in 1996.