Vanguard’s official ownership structure is fund/shareholder ownership, not ownership by an outside corporate parent. Together with Fink’s client-money statement, this undermines treating managed shares as the managers’ own property.
Vanguard is owned by its funds, which are owned by Vanguard’s fund shareholders.
Vanguard’s official ownership structure is fund/shareholder ownership, not ownership by an outside corporate parent. Together with Fink’s client-money statement, this undermines treating managed shares as the managers’ own property.