Vanguard Group announced Thursday that it had put its own brand on its exchange-traded fund family.
The Malvern, Pa., fund giant, changed the name of its Viper Shares to Vanguard ETFs. Martha Papariello, a principal at Vanguard Financial Advisor Services, said in a press release that the company decided on the change because "Vanguard" is such a strong, recognizable brand.
Vanguard ETFs are exchange-traded shares of Vanguard index funds that track broad market segments and certain market sectors. The company offered its first ETF in 2001 and now manages 24 ETF portfolios totaling more than $15.4 billion of assets.
It also said Thursday that the Securities and Exchange Commission has given it an exemptive order enabling mutual funds and other registered investment companies to invest in Vanguard ETFs above the limits outlined in law.
