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,...
2015 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. Vanguard is the largest fund manager by assets and has more than $70tn under management. 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.