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Five Vanguard Index Funds transition to CRSP indices


Five Vanguard funds will seek to track CRSP indices, effective with the opening of trading time on 31 January.

The transition to the new benchmarks is part of Vanguard’s announcement in October 2012 that 22 stock and balanced index funds would begin tracking new indexes this year.

The five funds previously sought to track MSCI indexes.

Vanguard Mega Cap Index Fund – CRSP US Mega Cap Index
Vanguard Large-Cap Index Fund – CRSP US Large Cap Index
Vanguard Mid-Cap Index Fund – CRSP US Mid Cap Index
Vanguard Small-Cap Index Fund – CRSP US Small Cap Index
Vanguard Variable Insurance Fund’s Mid-Cap Index Portfolio – CRSP US Mid Cap Index

The stated expense ratio for each share class of the Small-Cap Index Fund has declined by six basis points because acquired fund fees and expenses (AFFE) related to business development companies, which are excluded from CRSP indices, are no longer included. The projected expense ratios now range from 0.06 per cent to 0.24 per cent, depending on the share class.

The expense ratios for the other funds will remain the same because AFFE was not a component in the expense ratios.

In addition, Vanguard Mega Cap 300 Index Fund was renamed Vanguard Mega Cap Index Fund. Its two share classes are now named Mega Cap ETF and Mega Cap Index Fund Institutional.

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