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Fee reductions of Vanguard Australia funds
Vanguard Australia has announced it will reduce the fees on five of its diversified wholesale funds while also reassessing each fund's asset allocation.
Fee reductions of Vanguard Australia funds
Vanguard Australia has announced it will reduce the fees on five of its diversified wholesale funds while also reassessing each fund's asset allocation.
The changes are part of an ongoing process to ensure the funds are best suited to help clients reach their goals, said Vanguard Australia head of product and marketing Evan Reedman.
“Our diversified funds are one of our core product offerings, allowing investors to access several of our high-quality index funds in a single transaction. They represent both Vanguard’s commitment to low cost and our disciplined and sophisticated investment processes,” Mr Reedman said.
“These changes are part of a consistent evaluation of our funds to see where we can make improvements and how we can ensure they continue to best serve our clients.”
The affected funds are Vanguard’s Conservative Index Fund, Vanguard Balanced Index Fund, Vanguard Growth Index Fund, High Growth Index Fund and Diversified Bond Fund.
All five funds will see their management expense ratio reduced to 0.29 per cent and a revised asset allocation introduced from 1 July 2017, the company said.
“Vanguard regularly reviews its full range of funds to see where we can use efficiencies of scale to bring the cost of investing down for our clients,” Mr Reedman said.
“This means they get to keep a higher share of their returns, which ultimately helps them in realising their investment goals.”
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