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Vanguard eyes record $350bn in new money in 2017

Asset manager gains from investor appetite for passive funds, but CEO Bill McNabb is concerned that 'success can breed complacency'

Vanguard eyes record $350bn in new money in 2017

US fund manager Vanguard Group is on track to collect a record $350bn in investor cash this year, writes Sarah Krouse for The Wall Street Journal.

"It’s an extraordinary number," chief executive Bill McNabb said in an interview following a shareholder meeting in Arizona yesterday.

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