Barack and Michelle Obama are Vanguard
' Caren Bohan reports
that, according to the first couple's recent disclosure of 2009 wealth, the pair have "some retirement savings accounts" (Reuters doesn't specify whether they are IRAs, 401(k)s or something else) with the Valley Forge, Pennsylvania-based low-cost mutual fund firm.
According to their disclosures, the President has an account with between $50,000 and $100,000 in the Vanguard 500 Index Fund
, while the First Lady has two such accounts investing in the same fund, each with the same asset range. The pair appear to have shifted those assets into the Vanguard 500 Index Fund from the Vanguard FTSE Social Index Fund
. (Barack did so in June, and Michelle did so in July.) They now have less than $1,000 in the Vanguard FTSE Social Index Fund.
The President does not list any assets with Ariel Ivnestments
, a Chicago-based mutual fund firm with which he has close ties. That move is probably to avoid any appearance of a conflict of interest.
The President's total wealth last year ranged between $2.3 million and $7.7 million.
Neil Anderson, Managing Editor
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