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Vanguard, the largest passive-fund manager with $3.8 trillion in assets, is likely to become the largest active manager as well within a few years. Currently Vanguard boasts $1.37 trillion in active mutual fund assets, well ahead of Fidelity and only $179 billion behind American Funds, thanks to a higher growth rate on strong inflows at a time when most such funds are seeing outflows.
“We think it’s more appropriate to compare ‘high cost vs. low cost’ funds, instead of active vs. passive.”
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