Vanguard, the mutual funds company based in Malvern, Pennsylvania, has experienced substantial growth.
According to the global financial services firm Morningstar, “Vanguard’s 25.6% market share is greater than that of its next three biggest competitors combined.”
The 10 largest asset managers, American Funds, BlackRock, Dimensional Fund Advisors, Fidelity, Franklin Templeton, Invesco, PIMCO, SPDR State Street Global Advisors, T. Rowe Price, and Vanguard, have approximately $13 trillion in assets. Vanguard holds a third of that.
“Decades of doing right by their end investors have been rewarded by steady and growing net new flows into the system,” Morningstar’s Ben Johnson told MarketWatch.
In 2016, Vanguard opened the Vanguard Innovation Center in West Philadelphia to meet the needs of its clients in the digital age. This center continues to foster innovation in Greater Philadelphia and beyond.