Vanguard is lowering the fees on six funds by adding low-cost Admiral Shares to them. Vanguard’s Admiral Shares program requires a minimum account balance of $10,000.
The new share classes will be applied to six U.S. stock index funds, bringing their expense ratios between 10 and 21 basis points, and to two international stock index funds, whose expense ratios will range from 12 to 18 BPS.
With this move, Vanguard now offers Admiral Shares on 74 funds, 38 of which are index funds. Any investor who owns the funds with the new share classes and who qualifies for the lower fees will automatically be converted to the Admiral Shares.
-- This article first appeared on Money Management Executive.