Vanguard Receives Morningstar ETF Provider Of The Year, For Second Straight Year
TORONTO, Nov. 27, 2014
TORONTO, Nov. 27, 2014 /CNW/ -- Vanguard Investments Canada Inc. received MorningstarETF Provider of the Year for the second straight year yesterday at the 20th annual Morningstar Canadian Investment Awards. The award comes as Vanguard concludes its third year of operations in Canada, during which the firm launched five new exchange-traded funds (ETFs) and lowered management fees on more than half of its lineup of now 21 ETFs.
"I'm thrilled to see Vanguard receive this recognition from Morningstar, especially as we continue to focus on what we believe are the core virtues of ETFs—their low-cost, transparent, and tax-efficient characteristics," said Atul Tiwari, managing director of Vanguard Investments Canada. "I'd like to thank Canadian advisors and investors for their support, as we continue to bring the Vanguard way of investing to Canadians."
Vanguard ETF™ fees are lower than those of competitors, on average*. As of October 31, 2014, Vanguard's straight-average management fee across its 21 ETFs was 0.18%, and the ETF industry's was 0.69%. (Vanguard's average asset-weighted management fee was 0.14%, and the ETF industry's was 0.35%.)
Vanguard lowered expense ratios on 11 ETFs in October, and new management expense ratios (MERs) for its full lineup of ETFs will be recalculated at the end of the year, as per regulations.
Vanguard's investment approach has continued to be embraced by financial advisors and individual investors in Canada, who are constructing balanced, broadly diversified portfolios using low-cost ETFs. The firm entered the Canadian market in November 2011, with six ETFs and now offers 21 ETFs with total assets of more than $3 billion.
About Vanguard Vanguard Investments Canada Inc. is a wholly owned indirect subsidiary of The Vanguard Group, Inc. and manages more than $3 billion (CAD) in assets. The Vanguard Group, Inc. is one of the world's largest investment management companies and a leading provider of company-sponsored retirement plan services. Vanguard manages more than $3 trillion (USD) in global assets, including more than $400 billion (USD) in global ETF assets. Vanguard has offices in the United States, Canada, Europe, Australia, and Asia. The firm offers nearly 160 funds to U.S. investors and an additional 125 funds, including ETFs, to clients in the other markets in which the firm operates.
Vanguard operates under a unique operating structure. Unlike firms that are publicly held or owned by a small group of individuals, The Vanguard Group, Inc. is owned by Vanguard's U.S.-domiciled funds and ETFs. Those funds, in turn, are owned by their investors. This unique mutual structure aligns Vanguard interests with those of its investors and drives the culture, philosophy, and policies throughout the Vanguard organization worldwide. As a result, Canadian investors benefit from Vanguard's stability and experience, low-cost investing, and client focus. For more information, please visit vanguardcanada.ca.
About Morningstar Morningstar, Inc. offers an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. Morningstar provides data on approximately 479,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 13 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $169 billion in assets under advisement and management as of September 30, 2014. The company has operations in 27 countries.
All asset figures are as of October 31, 2014, unless otherwise noted.
*Vanguard calculations using management fees compiled from annual and semiannual Management Reports of Fund Performance and/or data from Investor Economics.
Commissions, management fees and expenses all may be associated with the Vanguard ETFs™. This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies are available from Vanguard Investments Canada Inc. at www.vanguardcanada.ca. Please read the prospectus before investing. ETFs are not guaranteed, their values change frequently, and past performance may not be repeated.
Morningstar Awards 2014(c). Morningstar, Inc. All Rights Reserved. Awarded to Vanguard Investments Canada Inc., for Morningstar ETF Provider of the Year, Canada.