Vanguard’s new CEO, Salim Ramji, direct from his previous job at BlackRock, recently told an interviewer that he’d like to apply Vanguard’s low cost approach to private assets. Silla Brush and Katie Greifeld of Bloomberg report:
Vanguard Group Chief Executive Officer Salim Ramji said his firm is “really about” low-cost investing, and that he’d eventually like that to carry into the world of private assets.
“Low-cost investing applies in index, and it applies in active — and I would like it over time to also apply in private assets,” Ramji said in an interview Monday on Bloomberg TV. He’d also “never” attempt to take the asset manager public, he said.
Action Line: If you consider investing in any future Vanguard private asset products, be wary of lockups and other mechanisms that reduce your access to your money. Like interval funds, money managers aren’t going to want you to sell quickly. If you want to talk about liquidity in your portfolio, and maintaining control over your assets, I’m here. In the meantime, click here to subscribe to my free monthly Survive & Thrive letter.
Originally posted on Your Survival Guy.
