Vanguard's Blake: Active is not out of the question in the UK

THE BIG INTERVIEW

Five years since the launch of Vanguard Asset Management in the UK, head of UK retail Nick Blake tells Anna Fedorova about the passive giant's current focus, cost cutting, and plans to bring active funds to the UK in the future.

Since Vanguard Asset Management opened its first office in the UK in 2009, it has rapidly gained market share in passive funds and exchange-traded products (ETPs), but has avoided any direct challenge to active fund managers. However, Nick Blake, UK head of retail at the group, said launching active funds in the UK is not out of the question as the group looks to capitalise on its existing capabilities in the US. Founded in the US in 1975, the business focused on index funds, launching the industry’s first fixed income index fund – the Vanguard Total Bond Market Index fund – in 1986. ...