Vanguard Group, bases in the suburbs of Philadelphia is far afield from Wall Street's biggest powerBLOOMBERG NEWS
“We are entering the private equity market the Vanguard way—partnering with a world-class advisor to provide a high-quality offer,” Tim Buckley, CEO of Vanguard, said in a statement. “While this strategy will be initially available to institutional advised clients, we aim to expand access to investors in additional channels over time. For individual investors in particular, this partnership will present an incredible opportunity—access and terms they could not get on their own.
Passive investments have reshaped the way Wall Street works, putting assets increasingly in the hands of long-term owners like retirement savers, and out of actively trading hedge funds and mutual fund stock pickers. The lower fees of passive funds have also crushed active management profits, and this change of hands has trimmed the trading revenues at large brokerage houses.
Hey! Do you not recall Vanguard was not concerned about ALL you folks who lost your retirement back in 2008.....HMMMm
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