BlackRock adding cheap ETFs in retail race with Vanguard

BlackRock is ramping up its fight with Vanguard Group for U.S. retail investors by doubling the number of funds in its low-fee “core” series.
JUL 25, 2014
BlackRock Inc., the biggest provider of exchange-traded funds, is ramping up its fight with Vanguard Group Inc. for U.S. retail investors by doubling the number of funds in its low-fee “core” series. BlackRock's iShares unit cut fees on six existing funds and opened four new products, the New York-based company said today in a statement. BlackRock introduced its core lineup in October 2012 and rolled out a similar group of funds in Europe last week. “We are now taking buy-and-hold investing up a level with greater choice and flexibility,” Patrick Dunne, iShares' head of global markets and investments, said in the statement. Under iShares head Mark Wiedman, BlackRock is working to stop the loss of market share to Valley Forge, Pa.-based Vanguard, whose broad-market ETFs are popular among individual savers for their low cost. In the year through May 31, Vanguard ETFs took in $50.9 billion in net deposits, compared with iShares' $36.6 billion, according to data compiled by Bloomberg. (Bloomberg News)

Latest News

WallStreetBets takes on the SEC — and makes a surprisingly sharp case
WallStreetBets takes on the SEC — and makes a surprisingly sharp case

The Reddit trading community's formal comment letter against the proposal is drawing widespread attention across finance and tech circles.

Stratos Wealth Holdings closes 11 acquisitions in push for advisory scale
Stratos Wealth Holdings closes 11 acquisitions in push for advisory scale

RIA aggregator adds $4.8 billion in client assets across seven states as demand grows for alternatives to traditional succession models.

Beyond wealth management: Why the future of advice is becoming more human
Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

Shareholder sues FS KKR Capital board, alleges NAV and dividend cover-up
Shareholder sues FS KKR Capital board, alleges NAV and dividend cover-up

Shareholder targets FS KKR Capital's directors over alleged portfolio valuation and dividend missteps.

UBS loses $1.2 million arbitration claim linked to variable annuities and margin
UBS loses $1.2 million arbitration claim linked to variable annuities and margin

UBS has a history of costly litigation stemming from the sale of volatile investment products.

SPONSORED Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

SPONSORED Durability over scale: What actually defines a great advisory firm

Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline