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Rating:Brennan on Hedge Funds, ETFs and Being Private Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, February 21, 2008

Brennan on Hedge Funds, ETFs and Being Private

Reported by Erin Kello

Vanguard's John Brennan took to the stage at NICSA's 26th Annual Conference & Expo in Miami Wednesday morning. The chairman and CEO of the Valley Forge, Pennsylvania-headquartered fund giant was the final speaker at the four-day conference at the Doral Golf Resort & Spa.

Brennan shared his thoughts on different issues that affect his company and the fund industry.

John Brennan
Vanguard
chairman and CEO


He addressed the talent drain that hedge funds have been said to be putting on the fund industry. He dismissed the idea, saying that the mutual fund industry is for those who want long-term careers and a stable job. Continuing, Brennan asked the crowd if they knew how many dozen hedge funds had failed last year.

When asked whether he ever considered taking Vanguard public, Brennan chuckled and claimed that the thought has never crossed his mind. He said that he likes the competitive advantages that come with being private.

"It's fun to be different," he added.

As for ETFs, Brennan thinks they are here to stay, but will not replace actively managed funds in consumers' portfolios. The one effect Brennan thinks ETFs could have on actively managed funds is to put pressure on them to perform better.  

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