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商品編號： 9-311-134 出版日期： 2011/06/10 作者姓名： Pozen, Robert C.;Vickers, Steven 商品類別： Other 商品規格： 12p 再版日期： 2011/09/30 地域： United States 產業： 個案年度： 2000 -
商品敘述：
Vanguard Group management, led by CEO John Brennan, was considering whether to launch exchange-traded funds (ETFs) in early 2000. ETFs, first created in the early 1990s, combined aspects of traditional mutual funds and closed-end funds. The US ETF industry had reached $36 billion in assets under management, growing rapidly over the past few years. Because ETFs were exclusively index-tracking products, Vanguard, the largest index mutual fund company, had some potential expertise in managing ETFs. However, entering this market would present also unique challenges for Vanguard. Vanguard had a philosophy espousing low-turnover investing, while ETFs enabled short-term trading. The company would also need to develop a distribution network for ETFs. Finally, since Vanguard''s mutual fund investors owned the company, management considered whether existing shareholders would benefit from an ETF product launch.
涵蓋領域：
Financial markets;Fixed income securities
相關資料：
, (9-311-136), 6p, by Robert C. Pozen, Steven Vickers
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