Vanguard takes keys to Pimco's bond kingdom
Vanguard has overtaken Pimco as the largest provider of taxable-bond mutual funds by assets, a title the West Coast firm has held for more than a decade.
The Vanguard Group Inc. now manages nearly $430 billion in the funds, while Pacific Investment Management Co. handles $425 billion, according to Morningstar Inc.
Vanguard has been gathering scores of assets across its divisions and is on pace soon to top $3 trillion in total assets (as of June 30, the figure stood at $2.93 trillion).
