From 65438 to 0975, after leaving Wellington Asset Management Company, john bogle put his ideal fund company in college into practice and personally founded an independent fund company that put the interests of investors first, which is now Pioneer Group. At that time, the company managed 1 1 fund with a net asset value of1800 million USD. The name of the group "Pioneer" is named after the flagship battleship "Pioneer" in the fleet commanded by Lord Nelson, the British general who defeated Napoleon in the battle of the Nile in history.
1789 during the French revolutionary war, France could not cross the sea to capture Britain, so Napoleon adopted the tactics of stationing troops in Egypt to attack important British trading ships. Britain sent General Nelson to the Mediterranean to annihilate the French naval fleet. On August 1 day, General Nelson found the French army near Abu Ghneil Bay, the mouth of the Nile, and then launched an attack. Nelson's army, with the vanguard as its flagship, attacked the French in two ways. The French army was caught off guard, the warships were destroyed again and again, and the French capital ship was blown up and caused a large-scale explosion. The victory of the British army in this important battle destroyed the ambition of the French army in Egypt and kept Britain's position in the Mediterranean. The flagship "pioneer", the leader of the campaign, has become a symbol of leadership success. The model of Pioneer is displayed at the entrance of Pioneer Headquarters Building in Ji Gu, Pennsylvania, symbolizing its flagship spirit. The buildings of Pioneer Group are also named after other warships in battle, such as theseus, Alexandria and Majestic, and the employees in the company are commensurate with the crew.
Like "Pioneer", Pioneer Group also embodies the leadership style everywhere in the development of American mutual fund industry. 1976, the second year after the establishment of the group, Pioneer Group launched its first index fund-Pioneer 500 Index Fund, which has now developed into the largest index fund in the world. A year later, Pioneer Group made an innovation in customer service that shocked the industry: canceling the sales expenses of outsourcing intermediaries and funds. 198 1, Pioneer took revolutionary measures for the third time, using the internal investment management team to manage most of the fixed income assets, which changed the original situation of relying entirely on external fund managers. Pioneer fund has been operating at low cost, but it thinks that employee salary is not cost. Pioneer treats investment talents with great respect. If his performance is not good in 3-4 years, the company will work with him to find the reason and improve efficiency.
Pioneer Fund has more than 20 million investors, 20% of whom have 80% assets. Shellie Unger, head of the marketing and sales department of Pioneer Fund, said: "Of the assets we manage, $400 billion are personal assets. We sell our products by word of mouth, not by marketing skills. Investors are proud to enter the Pioneer Fund Club. " Compliance operation is the core issue of fund companies. How can fund management companies truly achieve compliance? The answer given by Marybeth Matecki, the head of Pioneer Fund's supervision department, is simple-for the sake of investors. It is understood that Pioneer Fund Company is issuing 26 regulatory rules, involving 1.2 million employees.
Marybeth Matecki said: "We comply with the law in essence rather than literally, that is, we monitor compliance based on risk assessment. Good compliance means good service. The company trains marketing personnel 3-4 times a year, and the qualification examination of fund association also includes the continuing education plan in this respect. At present, the company has 40 special supervisors. Broadly speaking, the company's 654.38+200,000 employees have supervisory responsibilities. "
In addition, he stressed that Pioneer Fund should communicate directly with the US Securities and Exchange Commission every year and also report to the company's board of directors and management. The board of directors of the company has 8 independent directors and 1 CEO directors, and major issues are decided by the board of directors. The management of the company is appointed by the board of directors. If the CEO and other senior managers are found to have violated the rules, the board of directors may decide to investigate immediately. Mr. john bogle, the founder of Pioneer Fund, believes that funds are an industry that manages other people's assets, but some funds are increasingly pursuing their own interests and forgetting the interests of investors, which is particularly obvious in the bubble of technology stocks. Pioneer fund has been making profits for investors and has not caught up with any wave. On the contrary, it has gained a firm foothold in the market.