The advantage it commands as the low-cost mutual fund family is so formidable that the Malvern, Pa., firm is "guaranteed the segment of the market that is price-sensitive," said Louis Harvey, president of
If you can give investors good, steady performance and low costs, that's a powerful combination," said Michael S. Miller, a Vanguard managing director and its chief strategist.
But, the Inquirer notes, if Vanguard's managers are confident of having a place at the table, they cannot be sure what the financial markets will dish up. The industry is also maturing and consolidating.
Vanguard faces challenges from the
Nonetheless, the firm is hoping to fill several hundred more job openings.