Walter L. Morgan, Date of Birth, Date of Death
TweetWalter L. Morgan
American businessman
Date of Birth: 23-Jul-1898
Date of Death: 02-Sep-1998
Profession: businessperson
Nationality: United States
Zodiac Sign: Leo 
About Walter L. Morgan
- Walter L.
- Morgan (July 23, 1898 – September 2, 1998) was the founder of the Wellington Fund, the first balanced mutual fund in the United States and one of the oldest surviving mutual funds.
- Morgan was born in Wilkes-Barre, Pennsylvania, where he prepared at the Hillman Academy.
- He graduated from Princeton University in 1920, and shortly thereafter became the youngest CPA in Pennsylvania.In the 1920s Morgan raised $100,000 from relatives and business people to create what he believed to be a stable investment portfolio.
- The Industrial and Power Securities Company was established in 1928.
- It was later renamed the Wellington Fund in honor of the Duke of Wellington.
- Wellington Management Company was incorporated in Philadelphia in 1933.
- In 1951 Morgan hired John C.
- Bogle who became his heir at the company.
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