The Vanguard Group

The Vanguard Group, Inc.
Company typePrivate[1]
IndustryInvestment management
FoundedMay 1, 1975 (1975-05-01)
FounderJohn C. Bogle
HeadquartersMalvern, Pennsylvania, U.S.
Key people
Products
RevenueUS$6.93 billion (as of 2022)[needs update]
AUMIncrease US$10.1 trillion (as of September 30, 2024)[2]
Number of employees
Increase 20,000 (as of December 31, 2023)[2]
Websiteinvestor.vanguard.com Edit this at Wikidata

The Vanguard Group, Inc. is an American registered investment advisor founded on May 1, 1975, and based in Malvern, Pennsylvania, with about $10.1 trillion in global assets under management as of September 2024.[3] It is the largest provider of mutual funds and the second-largest provider of exchange-traded funds (ETFs) in the world after BlackRock's iShares.[4] In addition to mutual funds and ETFs, Vanguard offers brokerage services, educational account services, financial planning, asset management, and trust services. Several mutual funds managed by Vanguard are ranked at the top of the list of US mutual funds by assets under management.[5] Along with BlackRock and State Street, Vanguard is considered to be one of the Big Three index fund managers that play a dominant role in retail investing.[6][7]

Founder and former chairman John C. Bogle is credited with the creation of the first index fund available to individual investors and was a proponent and major enabler of low-cost investing by individuals,[8][9] though Rex Sinquefield has also been credited with the first index fund open to the public a few years before Bogle.[10]

Vanguard is owned by the funds managed by the company and is therefore owned by its customers.[11] Vanguard offers two classes of most of its funds: investor shares and admiral shares. Admiral shares have slightly lower expense ratios but require a higher minimum investment, often between $3,000 and $100,000 per fund.[12] Vanguard's corporate headquarters is in Malvern, a suburb of Philadelphia. It has satellite offices in Charlotte, North Carolina, Dallas, Texas, Washington D.C., and Scottsdale, Arizona, as well as Canada, Australia, Asia, and Europe.

  1. ^ "The Vanguard Group, Inc.: Private Company Information". Bloomberg. Retrieved December 22, 2019.
  2. ^ a b "Fast Facts About Vanguard". The Vanguard Group, Inc. Retrieved March 5, 2019.
  3. ^ Flood, Chris (January 13, 2021). "Vanguard's assets hit record $7tn". Financial Times. Archived from the original on June 21, 2021. Retrieved June 21, 2021.
  4. ^ "ETF League Tables - ETF.com". Retrieved March 22, 2017.
  5. ^ "Lipper Performance Report" (PDF).
  6. ^ Bebchuk, Lucian; Hirst, Scott (2019). "Index Funds and the Future of Corporate Governance: Theory, Evidence, and Policy". Columbia Law Review. 119 (8): 2029–2146. SSRN 3282794.
  7. ^ McLaughlin, David; Massa, Annie (January 9, 2020). "The Hidden Dangers of the Great Index Fund Takeover". Bloomberg Businessweek. Retrieved June 7, 2021.
  8. ^ "Lightning Strikes: The Creation of Vanguard, the First Index Mutual Fund, and the Revolution It Spawned" (PDF). Bogle Financial Markets Research Center. April 1, 1997. Archived from the original (PDF) on June 12, 2018.
  9. ^ Sommer, Jeff (August 11, 2012). "A Mutual Fund Master, Too Worried to Rest". The New York Times. Retrieved February 2, 2015.
  10. ^ Cite error: The named reference wsj-interview was invoked but never defined (see the help page).
  11. ^ DiStefano, Joseph N. "Vanguard SEC Filings Drop 'At-Cost,' 'No Profit' Claims That Were Dear to Late Founder John Bogle". The Philadelphia Inquirer. Retrieved October 4, 2019.
  12. ^ "Admiral Shares Help Keep Your Costs Under Control". Vanguard. April 9, 2020.

The Vanguard Group

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