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'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. Vanguard has been one of the most aggressive investors this year, buying up shares at an average annual rate of $16.6bn over the past 12 months.