![]() Narrowly ahead off the bend, she continued to pull away from her rivals and raised her arms to the air as she glanced at the finish line clock. Six women, led by Alfred and Steiner with 10.90, had broken 11 seconds in Thursday’s semifinals.Īfter equalling the NCAA Championships 200m record with a PB of 22.02 to win her semifinal on Thursday, Steiner next lined up for the 200m final and took another 0.22 off that lifetime best. The women’s team performances were led by Anna Hall, who contested a unique double and won the heptathlon alongside securing a second-place finish in the 400m hurdles, and Jasmine Moore, who took the triple jump to go with her long jump win from Thursday.įor Steiner, her 200m win came 45 minutes after a third-place finish in the 100m, won by Julien Alfred of Texas in a photo finish from Oregon’s Kemba Nelson as they both clocked 11.02 (0.2m/s). University of Florida secured the women’s team title, completing a double following the men’s team success the day before. The Massachusetts Securities Division “is looking at issues like those that recently happened with Vanguard,” a spokesperson for Galvin’s office told ThinkAdvisor then.Abby Steiner ran a world-leading collegiate record of 21.80 to win the 200m – one of four medals claimed by the University of Kentucky sprinter on the fourth and final day of NCAA Championships action in Eugene on Saturday (11). Galvin said he was particularly concerned by reports of inadequately disclosed fund changes that shifted financial burdens to small-dollar investors, resulting in large tax bills for those who held the funds in non-retirement accounts. Rowe Price Investment Services, American Fund Distributors, BlackRock Investments, Fidelity Brokerage Services and Vanguard Marketing Corp. William Galvin, Massachusetts’ top securities regulator, launched an investigation in late January into the purchase of target date mutual funds by Massachusetts customers in taxable accounts at five broker-dealers - T. Vanguard did not respond to a request for comment by press time. Naturally, plans with under $100M wanted the lower fees available to the Institutional Fund investors,” the lawsuit says. Plans with under $100M were limited to the Retail Funds, with higher fees. 1 “recipient of cash flowing into target-date funds,” the lawsuit continues.īecause most of the money in Vanguard’s target date funds “comes from company and institutional retirement plans,” Vanguard “is therefore incentivized to keep the managers of its retirement plans happy,” according to the complaint.īefore December 2020, “only retirement plans with $100M or more could access the Institutional Funds. Vanguard is also the largest TDF manager in the industry and the No. ![]() Vanguard, the lawsuit states, “competes to get the most assets under management, while maintaining low fees.”Īs one of the largest investment companies in the world, with over $8 trillion under management, and “the largest mutual fund provider,” it is “engaged in an ongoing ‘price war’ with its competitors,” the lawsuit continues. This was a gross violation of Vanguard’s fiduciary duties (among other legal duties).” But it either did not even consider these options, or did not care about hurting its smaller, taxable investors. ![]() Vanguard, the suit states, “had other, readily-available ways to lower costs for retirement plans without hurting its taxable investors. ![]()
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