ETFs & Mutual Funds
BlackRock Seeks to Mimic Vanguard’s Exclusive Tax-Saving Funds
- Vanguard’s patent on tax-busting fund design expired last year
- BlackRock is largest firm asking SEC to use Vanguard model
The Blackrock headquarters in New York.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
BlackRock Inc. is looking to gain ground over its top rival as it seeks to replicate a unique fund blueprint that helped Vanguard Group Inc. save its clients billions of dollars on taxes for two decades.
The Larry Fink-led firm filed on Wednesday for permission to create exchange-traded fund share classes of its mutual funds, a design that would port the tax advantages of the ETF wrapper onto billions of new assets.