Vanguard Investments Canada has revealed that its lineup of 11 low-cost exchange-traded funds (ETFs) has surpassed $1 billion in assets under management.
"We are grateful for the trust that financial advisors and their clients have placed in us," said Atul Tiwari principal and managing director of Vanguard Investments Canada.
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Vanguard entered the Canadian market in December 2011, listing six ETFs on Toronto Stock Exchange (TSX), and in November 2012, Vanguard added another five ETFs. Vanguard also recently filed a preliminary prospectus with the Canadian regulatory authorities for seven new ETFs (five equity ETFs and two bond ETFs).
Vanguard believes that its growth can be attributed to the acceptance of the indexing approach, which offers low costs, broad diversification, relative performance predictability, and tax efficiency.
As of December 31, 2012, Vanguard Investments Canada’s ETFs have an average management expense ratio (MER) of 0.27%. That compares with an average MER of 2.03% for all mutual funds in Canada.
"You can’t control market performance, but you can control how much you pay for your investments," Tiwari said. "All else being equal, investments with consistently low MERs can give you a head start in achieving competitive returns."
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