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Vanguard to pay for analyst research

Asset management giant Vanguard has become the first large US investment firm to decide it will pay for analyst research out of its own pocket rather than pass the cost on to investors in its funds, according to a report in the ‘Financial Times’ today. The $4.4 trillion (€3.7 trillion) Pennsylvania-based fund house, the world’s second largest, has said it expects to pay less than $5 million a year for external analyst research from its own profit and loss account, in a move that is likely to put pressure on rival firms to follow suit. Source: Funds-Europe

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