Vanguard hits seven-month £500m AUM target

Vanguard has reached £500m in assets under management since launching in the UK just seven months ago.

The US giant set up 11 index-tracking funds in June 2009 and has seen huge demand from institutional and retail investors through platforms. The biggest attractions for retail investors have been the £36m Vanguard FTSE UK Equity Index fund, the £12m Vanguard FTSE UK Equity Income Index fund - both managed by Christine Franquin - and the £16m Vanguard FTSE Developed World ex UK Equity index fund, managed by Gerard O'Reilly. Head of retail Peter Robertson says the company is pleased with the milestone but is aware it has a long way to go. "There are a lot of people who knew who Vangu...