Vanguard step closer to active fund launches in UK

It said it would be pursuing the possibility of launching "a handful" of low cost active funds within the next 12 months. The US fund group, which pioneered the use of index funds in the 1970s, currently offers passive products only to both direct and advised clients in the UK, mostly via platforms. It has previously indicated it would enter the active space in the UK: Vanguard head of retail Nick Blake told Professional Adviser's sister title Investment Week last year that active "is a good part of our proposition in the US, and one day we would like to do it here [in the UK]". Th...