It's official, Vanguard [profile] now manages over $2 trillion in U.S. mutual fund assets.

Chairman, chief executive and president Bill McNabb wrote a note to investors thanking them for the milestone.

That's a tremendous vote of confidence in Vanguard, our investment philosophy, and our people. It's also a great reminder of why we come to work every day: To take a stand for all investors, treat them fairly, and give them the best chance for investment success.

The full text of the note is below:

Company Press Release
Vanguard CEO thanks clients as U.S. assets top $2 trillion
Bill McNabb, Vanguard chairman and CEO, offers personal commentary and a message to investors as Vanguard assets pass a milestone.

As we begin a new year, I want to thank Vanguard clients for your continued trust and for allowing Vanguard to steward the assets that help to finance your life, your goals, and your aspirations. It's a very humbling task.

The year 2012 was marked by uncertainty in markets and economies around the world (the U.S. debt situation and the fiscal cliff; unemployment; Eurozone problems; geopolitical turmoil; natural disasters, including Hurricane Sandy in the United States). Indeed, at times it seems like uncertainty has been the norm since the financial crisis began in 2008, and while I do think that things will settle out eventually, uncertainty likely will persist in the near and intermediate terms. Many of our clients felt (and continue to feel) unnerved by it all. Still, you remained focused on your goals and steadfast in your loyalty to Vanguard. In 2012, clients entrusted more money to us than ever before, and we recently passed the $2 trillion mark in U.S. mutual fund assets under management. That's a tremendous vote of confidence in Vanguard, our investment philosophy, and our people. It's also a great reminder of why we come to work every day: To take a stand for all investors, treat them fairly, and give them the best chance for investment success.

Everything we do centers on that core purpose. Simply put, without our clients, we wouldn't exist. It's something we never forget.

It is our pledge to keep singularly focused on seeking to provide you with the best investment programs available in the world. Our client-first mentality is in our DNA, and that is not something that will change.

On behalf of the Vanguard crew, thank you for investing with Vanguard.

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