Vanguard sounds warning on ‘rules-based’ ETFs

Vanguard, seen as the pioneer of the low cost passive investment strategy now manages over $4bn in bond and equity funds. Rodney Comegys, head of investments at Vanguard says, "Indexing is hot. Target date funds are hot. Exchange-traded funds just keep growing." Vanguard is now the largest bond fund investor in the world and it’s partly a reflection of the dissatisfaction investors have with active managers’ performances and fees. However,...

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