Typical investment companies are owned by outside shareholders. But when Jack Bogle founded Vanguard he made a revolutionary decision.

He structured Vanguard in the US to be owned by its own funds – which means it’s owned by its investors.

So instead of paying dividends to external shareholders, we redirected our profits to our own investors in the form of lower fees.

This unique ownership structure in the US is what sets Vanguard apart – and lets us put investors first worldwide