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It is hard to imagine that index-tracking investment started 30 years ago this month with a mere Dollars 6m slug of money from a bag manufacturer.
Today, index-tracking specialists run Dollars 2,300bn of assets around the world, and there is a general expectation that this figure will grow dramatically over the next decade, as pension funds and individual investors buy into the idea that index funds make sense. But, if index funds have an established place in the investment world, they were no overnight success.
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