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Vanguard introduces three mega-cap index funds

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Pennsylvania-based Vanguard Group has made filings with the Securities and Exchange Commission to offer three new index funds, the Vanguard Mega Cap 300 Index Fund, Vanguard Mega Cap 300 G

Pennsylvania-based Vanguard Group has made filings with the Securities and Exchange Commission to offer three new index funds, the Vanguard Mega Cap 300 Index Fund, Vanguard Mega Cap 300 Growth Index Fund, and Vanguard Mega Cap 300 Value Index Fund.

The funds will track the MSCI US Large Cap 300 index, MSCI US Large Cap Growth index, and MSCI US Large Cap Value index respectively, offering exposure to the largest stocks in the US, as determined by MSCI, and enabling investors to construct equity portfolios by combining funds with exposure to discrete segments of the market.

The new funds will be managed by Vanguard Quantitative Equity Group, which runs more than USD575bn in indexed assets. The funds plan to offer ETF, institutional and investor shares with expected expense ratios of 0.13 per cent, 0.08 per cent and 0.20 per cent respectively.

Vanguard offers 66 index-oriented funds and annuity portfolios and 33 ETFs. The firm’s all-market stock and bond funds, Vanguard Total Stock Market Index fund and Vanguard Total Bond Market Index fund, recently reached asset milestones of USD100bn and USD50bn respectively. Assets in the firm’s ETFs have increased to USD35bn, more than double the level a year earlier.

The Vanguard Group is one of the largest providers of US mutual funds with more than USD1.2trn in assets and manages more than USD325bn in employer-sponsored retirement plans. Vanguard offers more than 140 funds to US investors and more than 40 additional funds in foreign markets.

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