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The Other Difference Between Mutual Funds and Jeans
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The New York Yankees. The New England Patriots. The UCLA Bruins. The Vanguard Group?
Vanguard may not come to mind when thinking about dynasties, but that’s about to change. Vanguard is dominating the fund business, and the numbers are staggering. It managed $1 trillion seven years ago; now that figure is $4.2 trillion. According to Morningstar, Vanguard took in $823 billion over the last three calendar years. That’s 8.5 times more than the net assets that flowed to the rest of the industry combined.