Investors demand more information on robinhood funds

Investors are asking for more information about a new retirement funds that have surged in popularity in recent years, but are still a few years away from raising millions of dollars.

In the wake of the $8.5 billion Blackstone Fund, investors have been pressing their representatives at the Securities and Exchange Commission to require them to register with the SEC as investment funds, as well as share any investments they hold.

In a filing with the commission last week, Vanguard, a major brokerage and fund manager, argued that such an requirement would require it to divulge “all of its investments in and through the Blackstone Retirement Fund, which it has not yet.”

The Blackstone fund has seen its shares rise as much as 25 percent over the past year, making it one of the top 100 funds in the S&P 500.

Vanguard argues that while its investors are entitled to “all benefits of the funds, there is no requirement that they provide any information about any investments that they hold.”

In a blog post Thursday, the investment management company said it is working to get more information from the SEC about the fund, but noted that it does not intend to make a statement until that information is made public.

“The Commission’s request for the information requested by Vanguard has been a long time coming,” the blog post said.

“We are now seeking the Commission to consider how to better protect the investors who invested in Blackstone through its investments.

We are also committed to working with the Commission as quickly as possible to make our position as clear as possible.”

A Vanguard spokeswoman declined to comment further.

The SEC filed a complaint last month against Vanguard, alleging that it has been misleading investors about the investment strategies of its funds, in violation of the Securities Act.

Vanguard did not respond to a request for comment.