Vanguard reports business growth globally
Vanguard Group has reported that its business continued to grow across key global amrkets in the first half of 2013, taking its ETF assets overall to $281bn as of the end of June.
During the period, Vanguard expanded its European ETF range to include four physically backed Ireland domiciled ETFs on the London Stock Exchange, adding to the five ETFs it launched into Europe in 2012.
The company has also listed seven ETFs on the SIX Swiss Exchange, and the NYSE Euronext Exchange in Amsterdam and Paris – available in both Swiss francs and euros.
At the end of June, Vanguard’s European ETFs had some $1.4bn in assets under management.
Tom Rampulla, managing director for Vanguard in Europe, said: “The swift growth of our European ETF business is testament both to increased investor appetite and the changing regulatory focus of the investment market.”
“Vanguard is committed to educating the market on the benefits ETFs present as core building blocks of low-cost diversified portfolios. Like our traditional mutual funds, our physically-backed ETFs offer investors a simple, low-cost way to gain broadly diversified market exposure and our business is growing as investors increasingly embrace high quality and transparent funds.”
In the US, Vanguard attracted some $26bn in new funds to its line-up of 67 US based products. It added to these in the period, with three fixed income ETFs.
In its other key markets of Australia and Canada, Vanguard reported assets under management of about $1bn in each respectively. In Hong Kong, the company introduced its first ETF to the Hong Kong Stock Exchange in May.