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Stock impact report

Vanguard Drops Average Fee to Just 0.06% With Latest Cuts [Yahoo! Finance Canada]

BlackRock, Inc. (BLK) 
Last blackrock, inc. earnings: 4/16 06:02 am Check Earnings Report
US:NYSE Investor Relations: ir.blackrock.com
Most Read from Bloomberg Monday's fee cuts are par for the course for Vanguard, which has reshaped the asset management world over the past 50 years with its low-cost index funds — pressuring its peers to drop their own costs to rock-bottom levels in order to compete. Now, as that race-to-the-bottom seemingly hits its limit with the average fee on new funds beginning to rise, Vanguard is sticking to its blueprint of steadily lowering fees. “Vanguard is investor-owned — we have no outside stockholders or inside owners profiting from our clients,” Vanguard chief executive officer Salim Ramji said in Monday's release. “These fee reductions — more than half a billion dollars over the past two years — are a clear expression of our purpose and commitment to our clients as owners.” Between last year and this year's cost cuts, Vanguard estimates its investors have saved about $600 million, according to the release. Vanguard's unique ownership structure blunts some of the margin-press Show less Read more
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