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Rekenthaler Report

What Happens When Vanguard Owns Everything?

The company is bigger than an 800-pound gorilla--and still growing.

Making History
Vanguard is the most dominant fund company in history. It already manages the largest stock mutual fund in the world; it soon will run the largest bond mutual fund; and despite being a latecomer to the business of exchange-traded funds, it places a close second to iShares for new U.S. ETF sales over the past 12 months.

No fund company has ever enjoyed anything like Vanguard's 2014 net inflows of $219 billion into U.S. mutual funds and ETFs. Until American Funds managed the feat in 2003, no firm had ever even cracked the $50 billion mark.

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