Investors poured an industry record $236 billion into mutual-fund company Vanguard Group in 2015, the latest evidence of a shift away from money managers who try to handpick winners. Vanguard’s 2015 haul was the largest annual flow of money to a mutual-fund company, according to research firm Morningstar Inc. The pioneer of passively managed,...
annual was another record breaking year for Vanguard, which saw $236bn of inflows into its mutual funds after attracting a net $214.5 bn in 2014. According to Morningstar, the amount represents the largest ever 2015 flow of money into a mutual- fund company. It is a clear confirmation of the swing favouring lower cost passive investment vehicles and takes AUM at the pioneer of passively- managed funds to more than $3.1 tn.