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Vanguard launches Global Small-Cap Index Fund


Vanguard Investments Europe has launched a new equity index portfolio, the Vanguard Global Small-Cap Index Fund. 

The portfolio is the 31st portfolio in the Irish-domiciled Vanguard Investment Series funds.

The fund aims to track the performance of the MSCI World Small Cap Index, which includes companies with a market capitalization between EUR190m and EUR2.1bn across developed markets.

This is the only index fund available in the European marketplace that provides exposure to this broad market within a single fund.

Paul Lohrey, Vanguard’s chief investment officer for Europe, says: “We believe that there is a long-term investment opportunity for investors in global small-cap stocks, and our fund provides a low-cost, broadly diversified way to access this market. Indexing can be successful in large and small-cap markets. As a general principle, we believe that a low-cost, low-turnover index fund is well-positioned to outperform in any defined market or market segment.”

The fund will offer unhedged investor and institutional shares in US Dollars, Euro and Swiss Francs, as well as hedged institutional shares in US Dollars, Euro and Swiss Francs. The total expense ratio for the investor shares is 0.60 per cent, and for the institutional shares is 0.50 per cent.

The fund will also offer unhedged Pound Sterling income shares and accumulation shares with a TER of 0.40 per cent.

Vanguard Quantitative Equity Group, which in total oversees nearly EUR340bn in assets, will oversee the fund. Michael Buek will manage the portfolio.

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