US-Based Asset Managers: Vanguard Fee Cuts Trump Impact of Tariffs on Traditional Asset Managers

While the threat of tariffs on Canadian, Mexican, and Chinese imports has roiled the equity markets this week, it has not been the only news to impact the traditional asset managers in our US-based asset manager coverage, as Vanguard's decision to cut fees on around one quarter of its mutual funds, ETFs, and money market funds (which collectively held $9.2 trillion in assets under management, or AUM) at the end of 2024 has only added to their woes.