Morgan Stanley drops Vanguard mutual funds
Morgan Stanley, the largest U.S. brokerage by salesforce, said on Wednesday it is dropping mutual funds from Vanguard Group, the largest U.S. mutual fund firm. Morgan Stanley will not force clients to liquidate any holdings they currently have in Vanguard mutual funds. Jockle said Morgan Stanley’s goal was to close out under-performing and less popular funds.
Source:: http://finance.yahoo.com/news/morgan-stanley-drops-vanguard-mutual-funds-002226295–sector.html