FYI: (If link doesn't work, Google article title.)
Vanguard is fast catching up on BlackRock as the world’s biggest money manager as the two titans of the global asset management industry, who collectively manage $11.5tn, battle for even greater market share.
Pennsylvania-based Vanguard attracted $112bn of net new flows in the first half of the year, compared to BlackRock’s haul of $77bn. Vanguard picked up a further $23bn in July, while BlackRock had outflows from its retail products. One analysis predicts Vanguard could overtake its New York competitor by 2021.
The two fund giants, whose combined assets are worth more than a third of the US stock market, have engaged in an aggressive battle for growth in recent years, leaving smaller competitors in their wake and sending shockwaves through the wider investment industry.
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Ted
https://www.ft.com/content/845082cc-a7ae-11e8-8ecf-a7ae1beff35b12/4/17 Bloomberg Article: Text & Video
https://www.bloomberg.com/news/features/2017-12-04/blackrock-and-vanguard-s-20-trillion-future-is-closer-than-you-think?srnd=etfcenter
