Vanguard to enter UK ETF market in 2010

The firm has a well-established US platform of ETFs in line with most of its open-end mutual funds and aims to take a similar approach in the UK. Vanguard UK managing director Tom Rampulla says: "We won't launch 30 funds at once, we'll aim to launch a handful of ETFs and then grow over time." He says Vanguard will provide ETFs which are among those with the lowest costs, while tracking indices efficiently. He adds: "If you look at Vanguard's tracking error over decades, it's among the best in the industry." Rampulla says the firm is uniquely positioned as it is mutually owned by...