Vanguard has broken its own record as the world’s fastest growing asset manager for a sixth successive year after attracting $368bn in net inflows in 2017, a 13.9% year-on-year increase.
The Financial Times reported that the record-breaking run has pushed Vanguard’s assets under management beyond $5trn, narrowing the gap in the battle for the world’s largest fund house with Blackrock, which controls about $6trn.
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Vanguard has used low cost index tracking funds to appeal to investors wishing to avoid high feels typically associated with active fund management.
According to the Financial Times, about 90% of the new money gathered in 2017 was channelled into its index-tracking funds.
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