If you have spent any time reading or researching about mutual funds, chances are you ran across a company by the name of "Vanguard." According to Webster's Dictionary, the definition of vanguard is: the troops moving at the head of an army or the forefront of an action or movement.
The Vanguard Group was founded in 1975, and has clearly become a leader in the mutual fund industry. With over $800 billion under management, Vanguard is clearly a popular choice amongst investors.
The Vanguard fund family consists of over 100 mutual funds. The largest fund, the Vanguard 500 Index Fund, trades places with the Fidelity Magellan Fund as the largest single fund in the world (nearly $100 billion dollars).
Vanguard is also known for its low operating expenses. According to Lipper, Vanguard's operating costs are one-fourth the average mutual fund. Vanguard's no loadmutual funds are very attractive to the educated fund investor who understands how much every percentage point counts.
Here are some of the high honors Vanguard has received in the past few years:
- Vanguard funds dominated Forbes' "Best Buy" rankings. In February 2000, 28 out of 66 portfolios were listed and in August of '99, 45 out of 186 were listed.
- Vanguard.com won top honors in Forbes' 2000 "Best of the Web" issue. Forbes chose our site as the "Best of the Best" in the mutual fund category.
- Mutual Funds Magazinenamed Vanguard #1 in the "Best Service" category and as the favorite fund family overall.
