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Rating:Vanguard Ain't Afraid of No BlackRock Fee Cuts Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, September 20, 2012

Vanguard Ain't Afraid of No BlackRock Fee Cuts

News summary by MFWire's editors

Last week BlackRock CEO Larry Fink confirmed that iShares [profile] price cuts are coming, but a top Vanguard [profile] executive dismissed the move's importance.

"If price is taken out of the equation because it's a neutral factor, the track record of the company starts to matter," Martha King, Vanguard's managing director of financial advisor services, told InvestmentNews. "Are you going to choose the company that's shown a decades-long commitment to low-cost [investing] or the one that just changed its stripes. Vanguard can only do what Vanguard does best. Low-cost investing isn't a Johnny-come-lately strategy for us, it's not a loss leader strategy. It's part of our DNA."

BlackRock is expected to cut fees for ETFs in the 15 asset classes where iShares and Vanguard products directly compete. 

Edited by: HFD

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