Double Digit Bonuses at Vanguard Disappoint

Despite priding itself on having the lowest fees around, index fund-giant Vanguard group manages to made enough money last year to bump up the bonuses it handed out to employees by 13%, according to the Philadelphia Inquirer. Not surprisingly, assets under management grew at about the same rate at Vanguard to $795.3 billion, putting it at number three behind Fidelity and Capital Group Cos. though solid, bonus increases over the past three years have failed to keep pace with the firm’s targets set back in 2002. Industry analysts blame the slower growth on the rising costs associated with being a “financial supermarket.”
Vanguard Raises Bonuses 13% [Philly.com]

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