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Vanguard brings low costs to ultrashort-term bond category


Vanguard has introduced the Vanguard Ultra-Short-Term Bond Fund with two low-cost share classes—Investor Shares and Admiral Shares.   

The fund’s Investor Shares have an estimated expense ratio of 0.20% and require an initial minimum investment of USD3,000. Admiral Shares have an estimated expense ratio of 0.12% and require a minimum investment of USD50,000. 

The new actively managed fund is now accepting investments during a subscription period that ends February 23, 2015. While the subscription period is in effect, the fund will invest in money market instruments as it accumulates adequate assets to construct a representative, diversified portfolio. 

Following the subscription period, the fund will invest in high-quality bonds – including money market, government, and investment-grade corporate securities – and will have an expected duration of approximately one year. 

“Vanguard Ultra-Short-Term Bond Fund is a low-cost, broadly diversified fund designed for investors who, in this low-interest rate environment, seek more income than a money market fund, but recognise the risks and are willing to accept the modest price volatility that will accompany the fund," says Vanguard Chief Investment Officer Tim Buckley.   

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