With about $3 trillion in assets under management, Vanguard, a provider of low-cost index funds, is the largest mutual fund firm in the United States. And five of Vanguard’s index funds were among the top 10 best-selling domestic mutual funds and ETFs for the one-year period ended Feb. 28. However, the firm is also an acknowledged provider of low-cost actively managed funds. This combination of active and passive makes their April 2014 paper, “The Case for Index-Fund Investing,” of even greater interest.
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