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Vanguard’s Push for Private Markets?

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By Funtap @ Adobe Stock

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.

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West (RIP JB) and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.
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