Vanguard replaces trading bot with humans

Vanguard has raised fees on two of its funds after replacing an in-house trading bot with full-fee, third-party humans.

Vanguard, the world's largest mutual fund company, has raised fees on two of its funds after replacing an in-house trading bot with full-fee, third-party humans. The robot, designed to manage the funds, was deemed ineffective and indentured to Vanguard's management. The company switched to a team of human managers from Wellington Management, a third-par…