Bringing you live news and features since 2006 

Vanguard launches Mega Cap index funds on NYSE Arca

RELATED TOPICS​

Vanguard has launched three new Mega Cap 300 index funds on the NYSE Arca electronic trading platform, bringing the number of exchange-traded funds it manages to 37 and the number of prima

Vanguard has launched three new Mega Cap 300 index funds on the NYSE Arca electronic trading platform, bringing the number of exchange-traded funds it manages to 37 and the number of primary ETF listings with the NYSE Group to 235.

The Vanguard Mega Cap 300 ETF tracks the performance of the MSCI Large Cap 300 Index, the Vanguard Mega Cap 300 Growth ETF tracks the MSCI 300 Large Cap Growth Index, and the Vanguard Mega Cap 300 Value ETF tracks the MSCI 300 Large Cap Value Index.

The ETF shares will have an expense ratio of 0.13 per cent, which is below the 0.17 per cent cost of the average large-capitalisation ETF, according to Lipper. Institutional shares of the new funds feature an expense ratio of just 0.08 per cent for investments of USD5m or more.

The new funds are managed by Vanguard Quantitative Equity Group, which oversees more than USD545bn in indexed assets. Vanguard now offers 70 index-oriented funds and annuity portfolios and 37 exchange-traded funds.

Headquartered in Valley Forge, Pennsylvania, Vanguard is one of the world’s largest investment management companies with more than USD1.3trn in US mutual fund assets under management, including more than USD350bn in employer-sponsored retirement plans. Vanguard offers nearly 150 funds to US investors and more than 40 funds in foreign markets.

‘We are very excited to welcome our first Vanguard listings to NYSE Euronext,’ says Lisa Dallmer, a senior vice-president for exchange-traded funds and indexes at NYSE Group. ‘These three Mega Cap ETFs broaden Vanguard’s domestic equity ETF line-up and offer investors a full suite of choices.

‘Our partnership with Vanguard is a complement to our services and NYSE Euronext’s firm commitment to offering investors access to the widest range of products available through NYSE Arca’s advanced market model for ETF trading.’ In the first three quarters of 2007, NYSE Arca handled 41 per cent of all ETF shares traded in the US market.

Latest News

HSBC Asset Management’s (HSBC AM) ETF and Indexing business has passed USD100 billion in assets under management (AUM), reflecting its..
Amundi’s ETF Market Flows Analysis for April reveals that investors added EUR54.1 billion to global ETFs in April with equities..
VanEck has reached USD10 billion in assets under management in Europe for the first time in April 2024...
Global index revenues increased 9.3 per cent in 2023, totalling a record USD5.8 billion, according to a benchmark study published..

Related Articles

Dan Miller, IQ-EQ
With just over a week to go till T+1 settlement begins in North America, Canada and Mexico, time is of...
Emily Spurling, Nasdaq
Last October’s ETF Express US Awards 2023 found Nasdaq winning Best Index Provider – ESG ETFs and Best Index Provider...
Vinit Srivistava, MerQube
Index provider, MerQube, launched in 2019, with the aim of providing a “technology-driven answer to the most complex, rules-based investment...
Sean O' Hara
Pacer ETFs has announced the launch of three Cash Cows UCITS ETFs. The firm writes that this will give European...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by