#Latest news with #VanguardGroupIncBloomberg05-02-2025BusinessBloombergVanguard's Record Fee Cuts Tighten Screws on BlackRock, InvescoVanguard Group Inc. 's biggest salvo yet in its campaign to cut fees for the investing masses presents industry rivals with a painful choice. Follow suit and lose potentially hundreds of millions in revenue — or hold the line and risk losing badly needed market share. The Valley Forge, Pennsylvania-based company unleashed its largest-ever fee reduction this week, slashing its average asset-weighted expense ratio to just 0.07% across its $10 trillion under management — a sliver of the industry average of 0.44%. The move sent shock waves across asset management, dragging down BlackRock Inc. to its worst day since 2022 on Monday while also sending the likes of Invesco Ltd. and State Street Corp. tumbling.
Bloomberg05-02-2025BusinessBloombergVanguard's Record Fee Cuts Tighten Screws on BlackRock, InvescoVanguard Group Inc. 's biggest salvo yet in its campaign to cut fees for the investing masses presents industry rivals with a painful choice. Follow suit and lose potentially hundreds of millions in revenue — or hold the line and risk losing badly needed market share. The Valley Forge, Pennsylvania-based company unleashed its largest-ever fee reduction this week, slashing its average asset-weighted expense ratio to just 0.07% across its $10 trillion under management — a sliver of the industry average of 0.44%. The move sent shock waves across asset management, dragging down BlackRock Inc. to its worst day since 2022 on Monday while also sending the likes of Invesco Ltd. and State Street Corp. tumbling.
05-02-2025
