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The Vanguard Group

Company nameVanguard
Company typeClient owned
IndustryInvestment management
FoundedValley Forge, Pennsylvania (1975)
HeadquartersMalvern, Pennsylvania, U.S.
Key peopleWilliam McNabb, President
John J. Brennan, Chairman
John C. Bogle, Founder
ProductsMutual funds, exchange-traded funds, brokerage, asset management
RevenueN/A
AUMUS$1.6 trillion (February 2011)
Employees12,000+ (2008)

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The Vanguard Group is an American investment management company based in Malvern, Pennsylvania, that manages approximately $1.6 trillion in assets. It offers mutual funds and other financial products and services to individual and institutional investors in the United States and abroad. Founder and former chairman John C. Bogle is credited with the creation of the first index fund available to individual investors, the popularization of index funds generally, and driving costs down across the mutual fund industry.

Vanguard is unusual among mutual-fund companies since it is owned by the funds themselves. In this structure, each fund contributes a set amount of capital towards shared management, marketing, and distribution services. The company says that this structure better orients management towards shareholder interests. Other mutual-fund sponsors are expected simultaneously to make a profit for their outside owners and provide the most cost-effective service to funds for their shareholders.


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