Indexing pioneer Vanguard Group has climbed to $4 trillion in assets for the first time, accentuating a loss of faith among investors in traditional money managers who handpick stocks. The record of $4.048 trillion, reached at the end of January, follows a year when Vanguard’s funds pulled in more new money than all of its competitors combined, according to one industry total. Of...
Passive investing giant Vanguard Group's assets under management have exceeded $4tn for the first time after a year in which the firm pulled in more money than all of its major competitors put together. The milestone represents more bad news for active managers, who handpick stocks and assets for funds. Passive funds, which mimic indexes and strategies, are popular because they command lower fees than actively managed vehicles.