Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

BlackRock Adding Cheap ETFs in Retail Race With Vanguard

Don't Miss Out —
Follow us on:

June 10 (Bloomberg) -- BlackRock Inc., the biggest provider of exchange-traded funds, is ramping up its fight with Vanguard Group Inc. for U.S. retail investors by doubling the number of funds in its low-fee “core” series.

BlackRock’s iShares unit cut fees on six existing funds and opened four new products, the New York-based company said today in a statement. BlackRock introduced its core lineup in October 2012 and rolled out a similar group of funds in Europe last week.

“We are now taking buy-and-hold investing up a level with greater choice and flexibility,” Patrick Dunne, iShares’ head of global markets and investments, said in the statement.

Under iShares head Mark Wiedman, BlackRock is working to stop the loss of market share to Valley Forge, Pennsylvania-based Vanguard, whose broad-market ETFs are popular among individual savers for their low cost. In the one year through May 31, Vanguard’s U.S.-registered ETFs took in $50.9 billion in net deposits, compared with iShares’ $36.6 billion, according to data compiled by Bloomberg.

The four new iShares funds, which begin trading June 12, will invest in European and Pacific region stocks, U.S. stocks with growing dividends and the U.S. bond market.

To contact the reporter on this story: Christopher Condon in Boston at ccondon4@bloomberg.net

To contact the editors responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net Sree Vidya Bhaktavatsalam, Pierre Paulden

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.