Index funds

The asset manager said it’s seeking a head of ETF capital markets in a post on LinkedIn.

Withdrawals have topped $17.2 billion this year as investor money shifts to low-fee products.

The correlation between fees and performance is not “apples-to-apples when taking the funds’ underlying exposures into account,” an expert says.

Expense ratios associated with the new products range from 0.05% to 0.07%.

The average expense ratio among the leading 20 is nearly 40 basis points cheaper than what investors paid on average last year.

Clients won't be taxed as the result of a deal if they hold the shares in ETFs or index mutual funds.

New products give institutional investors a fresh way to exploit the rise of machines.

The firm expects shareholders will save an estimated $3.2 million, annually.

With the reductions, nearly all of the firm’s index funds will have total net expenses lower than comparable Vanguard products.

CEO Tim Buckley acknowledges at the Morningstar conference that the firm is trying to convert investors to its Personal Advisory Services business, but won’t specify the target.