What does it say when the world’s second-largest asset manager and pioneer of index funds makes a move into direct indexing? Vanguard Group Inc.’s recent acquisition of the direct indexing company Just Invest cannot be viewed in isolation. When taken ...

Vanguard has entered into a definitive agreement to acquire Just Invest, an Oakland, California-based manager of $1 billion known for its direct indexing capabilities. “Just Invest’s capabilities in large-scale data analysis, quantitative algorithms and risk modeling will augment Vanguard’s $3 ...