Vanguard

No performance chasers here; these investors buy on the downside.

The top independents all state going public is a goal, but there are doubts about broad market support.

As fee cuts have become key to winning flows, managers turn to cheaper indexers, while some build in-house benchmarking teams.

Practitioners say the rules conceal problems that regulators never fully considered.

Large-cap equities were the only group of offerings that outperformed their respective benchmark.

The regulation encourages more transparency around fees for products that weren’t previously required to reveal such information.

To add insult to injury, these losers charge high fees – 12 of the 20 have expense ratios over 1%.

Personal Advisor Services closes in on the $100 billion AUM mark.

Last year alone 226 Vanguard funds and ETFs reported expense ratio declines.

The firm said they now have lower net expenses than comparable offerings at Vanguard.