In just 10 months, Vanguard customers in the United States showered the company’s investment funds with more money than last year’s record-setting $236.1 billion.
Through October, the Malvern-based mutual fund giant saw $250.6 billion pour in, with more than 80 percent of the total going into passive, low-cost index funds, according to a Dow Jones Business News staff report on NASDAQ.com.
“We are humbled by it,” CEO Bill McNabb said.
As money continues to channel into Vanguard, McNabb promised to “continue to lower fees as its funds grow.”
The unprecedented wave of confidence is also boosting Vanguard’s operations, which will soon expand to Philadelphia with a 20,000-square-foot office for new fintech research and development.
Read more about the new asset inflow record on NASDAQ.com here, and check out previous VISTA Today coverage of Vanguard here.
