Markets Magazine

This Basically Anonymous Fund Manager Oversees $800 Billion

Take a rare look behind the scenes at an index fund with Vanguard's Gerry O'Reilly, manager of the world's largest mutual fund.

1471032221_markets_vanguard-1 — Photographer: Mike Mergen/Bloomberg

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By Ben Steverman

August 15, 2016 at 10:00 AM UTC

This article is for subscribers only.

This article is part of the September 1, 2016 issue of Markets.

Gerry O’Reilly wasn’t fazed by Brexit.

On the Friday morning after the U.K. voted to leave the European Union, the manager of the world’s biggest mutual fund was on the trading floor in Malvern, Pa., watching numbers flickering on the four screens in front of him. Stocks were down 8 percent in Europe and 3 percent in the U.S. O’Reilly didn’t appear stressed. “For what we do, it’s not a huge deal,” he says.