Vanguard Singapore: A casualty of high-fee fund selling
A lack of scale in Singapore and the problems of trying to sell funds with no distribution costs or adviser commissions are seen as key reasons for Vanguard closing the office.
Global passive funds giant Vanguard Investments' closure of its Singapore operation, announced on Wednesday, is seen by industry observers as a reflection of its struggle to attract retail investors.
That in turn is largely down to the reluctance of regional regulators to encourage fiduciary financial advice and retail funds with low distribution and management costs attached.
Vanguard’s official statement on the closure referred to a decision to "streamline on-going client serv…
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