Greater scale brings greater efficiencies and lower costs, but growth also brings challenges, both operational and cultural, says Morningstar associate director of fund analysis Dan Culloton.
Vanguard principal and ETF strategist Joel Dickson responds to worries that increased passive investing has led to more market volatility and that ETFs cause investors to gamble with their portfolios.
Investors withdrew money last month from Vanguard Group Inc.'s emerging-markets exchange-traded fund, the industry's largest, after the firm said it would replace the fund's index.
Following the Malvern, Pa., company's announcement of 300 new hires in its Arizona office, the mutual fund giant has announced 354 new positions for its Pennsylvania and North Carolina offices as well.