The Vanguard Group is an American investment management company based in Malvern, Pennsylvania, that manages approximately $3.0 trillion in assets. It is the largest provider of mutual funds and now the second-largest provider of exchange-traded funds (ETFs) in the world, with about $451 billion in ETF assets under management, as of March 2015. It offers mutual funds and other financial products and services to retail and institutional investors in the United States and abroad.