The three funds are the Mega Cap 300 Index, the Mega Cap 300 Value Index and the Mega Cap 300 Growth Index. The quantitative equity group at Vanguard will oversee the funds, which are designed for advisers and institutional investors.
Other Vanguard index funds that invest in large-cap, large-cap growth and large-cap value include some mid-cap names, said company spokeswoman Amy Chain.
“With large-cap companies apparently beginning to regain some favor on Wall Street, this introduction looks well timed,” Daniel Wiener, editor of the Independent Adviser for Vanguard Investors newsletter, told The Wall Street Journal.
Wiener also said that it should help Vanguard compete with other ETF shops that focus on advisers, such as
Dan Culloton, a senior analyst with Morningstar, complemented Vanguard on taking a measured, if not a “staid” and “diversified” approach toward launching ETFs at a time when many other companies are rushing to bring some questionable offerings to market.
Others, however, such as Matt McCall, a financial adviser and editor of the ETF Bulletin, think Vanguard may be late to the game.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.
