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In December 1986, Vanguard launched its second mutual fund, a bond index fund called the Total Bond Fund, which was the first bond index fund ever offered to individual investors. [24] One earlier criticism of the first Index fund was that it was only an index of the S&P 500.
The First Index Investment Trust, as it was called, had been created and sponsored by Vanguard, and it's now known as the Vanguard 500 The first index fund was created on Aug. 31, 1976.
John Clifton "Jack" Bogle (May 8, 1929 – January 16, 2019) was an American investor, business magnate and philanthropist. He was the founder and chief executive of The Vanguard Group and is credited with popularizing the index fund.
In 1976, the Vanguard Group launched the First Index Investment Trust, which is now the Vanguard 500 Index Fund. ... An S&P 500 index fund may hold 500 securities, for example, but it will still ...
Bogle's fund was later renamed the Vanguard 500 Index Fund, which tracks the Standard and Poor's 500 Index. It started with comparatively meager assets of $11 million but crossed the $100 billion milestone in November 1999; this astonishing increase was funded by the market's increasing willingness to invest in such a product.
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