Common Cause/PA to Honor John C. Bogle ’51

Founder of The Vanguard Group
Tuesday, June 7, 2016
5:30 pm to 7:30 pm
The Pyramid Club, 1735 Market Street, Philadelphia, PA


   
John C. Bogle ’51, founder of The Vanguard Group, is being honored by Common Cause/Pennsylvania for his long dedication to the public interest, first promoting reforms within the mutual fund industry and for the past 25 years, throughout corporate America. 

The non-partisan government reform organization is presenting Bogle with its Bob Edgar Public Service Achievement Award at a reception on Tuesday evening, June 7 at the Pyramid Club, 1735 Market St. Tickets may be purchased through the Common Cause website at http://pa.commoncause.org/2016DemocracyAwards

Bogle founded Vanguard in 1974, creating the first mutual fund firm owned by its clients, a structure allowing Vanguard to operate at cost and pass the savings on to investors.  The firm introduced the world’s first index funds, with lower costs and broad diversification.  Vanguard’s innovations led to greater transparency – and ultimately hundreds of billions of dollars in lower fees -- throughout the mutual fund industry. In 1999 Fortune magazine listed Bogle among the four “investment giants” of the 20th century.

Serious heart problems forced Bogle to step down as Vanguard’s CEO in early 1996, but a heart transplant that year extended his life and broadened his perspective.  Over the past 23 years, he has published 10 books addressing problems in the mutual fund industry and beyond, from the breakdown of corporate governance to conflicts of interest in the accounting and credit-rating professions, government regulatory failures, corporate corruption and income inequality. 

Besides Bogle, Common Cause is honoring Terry Mutchler, former executive director of the state’s Office of Open Records, for her leadership implementing a new state law expanding public access to government documents and data.