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Vanguard Group Flirts With Hedge Funds

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WHAT WOULD BOGLE DO?
"The Vanguard Group, champion of the low-fee, index-driven money management model, is the last firm you would expect to dip its cautious toe into hedge funds.But it has done so — and the $1 trillion Valley Forge, Pennsylvania, asset manager seems intrigued by the possibilities," Institutional Investor reports. "Hedge funds, with their high risks and even higher fees, would seem to be the very antithesis of everything Vanguard stands for: passive, not active, investing, with as little risk as possible and modest fees. But beyond saying that it prizes the diversification benefits of alternatives, Vanguard is mum about its motives."

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