Vanguard's profits in its European business at all time high with 42% increase in assets under management and 23% increase in profits against this time last year. This is fueled by investor demand for low cost passive investment products that are well scaled, versatile and that undercut competitors on price and market coverage.
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Vanguard’s European assets jump 42% to almost £30bn
The European arm of Vanguard, the low-cost US asset manager, posted a 42% increase in assets under management during 2017 — a year in which profits and revenues also rose by more than a fifth.
The growth in profits and revenues for Vanguard, which manages more than $5tn in assets globally, comes as the Pennsylvania-based manager continues to shake up the European industry with its low-cost approach.
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