America's second-largest mutual fund company, Vanguard Group, with $550 billion under management, is making its debut into Asia with the hiring of Robinson Associates in Singapore on a fee basis to promote it.
Robinson Associates is the independent investment consultancy established last year by Jon Robinson, a 20-year veteran at Watson Wyatt and Mercer Investment Consulting. Robinson is well entrenched in Singapore, having served on the high-profile Economic Review Committee set up by the prime minister.
Vanguard is best known for pioneering index funds under founder John Bogle, who set up the firm in Valley Forge, Pennsylvania. The low-cost product, comprising $190 billion of Vanguard's managed assets, appealed to Robinson, inspiring...
