Karin Risi: So, am I supposed to not be looking at the camera at all?

Producer: Right. It’ll just be you and I.

Karin Risi: It’s just gonna be right here. Perfect (laughs).

Question [on-screen]: What factors does Vanguard consider when launching a new fund?

Karin Risi: There’s certainly a lot that goes into our global product development process. At Vanguard, our core purpose is to give clients the best chance for investment success. And that informs how we approach new fund development. Because the investment markets and our clients’ preferences are always changing, it’s our job to determine whether a new product presents an opportunity to better serve the long-term needs of our investors.

We pressure-test every potential new fund against three questions. First, will the fund have enduring investment merit that can improve client outcomes? At Vanguard, we don’t chase fads.

Second, will the fund satisfy a clear or unmet client need? We take a deliberate approach when designing funds to ensure that each product has an investment objective that meets a specific need in a client’s portfolio.

And last, we ask ourselves, can Vanguard be best-in-class? We assess whether a new fund will stand out in the marketplace and give our investors the best chance for investment success.