What profits do Vanguard make?What happens to them?I'll...

What profits do Vanguard make?
What happens to them?

I'll give you a hint, they don't pay out 4% yield in the form of franked dividends to a bunch of retail shareholders every year.

The closest thing we have in Australia (practically and culturally) is the large Industry Super Funds.

Unfortunately the Australian Finance ecosystem is (now) filled with the entitled, unremarkable products of our expensive and highly inefficient private school industry.

It's hardly a surprise that a good chunk of people in the industry are more adept at negotiating decent remuneration packages and climbing the corporate ladder by avoiding any difficult decisions or challenge to their corporate masters than achieving anything especially productive for society.