Renowned investor Charles Schwab on Thursday said high-frequency trading undermines fairness in the stock market and erodes investor confidence.» Read More
*Vanguard says $537 bln of assets will be switched* MSCI says $24 mln of annual operating income affected. Oct 2- Vanguard Group, the largest U.S. mutual fund manager on Tuesday said it was switching 22 of its biggest index funds away from benchmarks provided by MSCI Inc in order to cut costs.
BOSTON-- Vanguard Group is trying to bolster its appeal to cost-conscious investors by reducing a key expense of investing in low-cost index mutual funds: fees paid to firms that license benchmarks covering segments of the stock market that the funds track.
*MSCI says switch covers $24 million of annual operating income. Oct 2- Vanguard Group, the largest U.S. mutual fund manager, said on Tuesday it was switching 22 of its biggest index funds away from benchmarks provided by MSCI Inc in order to cut costs.
By Jilian Mincer and Steven C. Johnson. NEW YORK, Sept 30- U.S. stocks have more than doubled since the financial crisis and are closing in on a five-year high, but many Main Street investors have been absent from the party- especially those with the least saved.
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