The wave of scandals that has plagued the mutual fund industry in recent times has not eroded investors' trust, says Jack Brennan, chairman and chief executive of The Vanguard Group. Brennan, who was in Charlotte, N.C., this week meeting with Vanguard's 1,300 employees who operate a call center there, spoke to The Charlotte Observer..

With assets that grew by $56 billion to $815 billion last year, Vanguard, the second-largest fund company after Fidelity, has managed to steer clear of allegations such as late trading. These allegations, which began in September 2003, were part of New York Attorney General Eliot Spitzer's wider probe of the industry.

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