The concentration of voting power is an issue, but not because of the "increased responsibility." Large funds like Vanguard and BlackRock end up owning huge por

The concentration of voting power is an issue, but not because of the "increased responsibility." Large funds like Vanguard and BlackRock end up owning huge portions of many different companies. These companies are often direct competitors with one another, e.g. Vanguard owns over $62 million in American Airlines and $136 million in United. This creates incentives for anti-competitive practices.