Vanguard is carrying out a raft of expense ratios reductions for funds with fiscal years ending 31 January 2017, marking the final round of changes covering the 2016-2017 fiscal year period.
Over the past six months, 226 Vanguard mutual fund and ETF shares reported expense ratio decreases for an estimated USD337 million in cumulative savings based on total assets.
Over this same period, 160 fund shares reported no change and 14 fund shares reported an increase in expense ratios.
“Lowering costs can give our clients a better chance for investment success. In fact, more than 50 per cent of our investment offerings – spanning all product types, asset classes, and management styles – have reported expense ratio reductions over the last six months,” says Vanguard CEO Bill McNabb.
“We continue to look for ways to reduce the cost of investing. At the same time, we are also investing in people and technology to protect our clients’ assets, help improve their fund performance, and serve them more effectively and efficiently with the ultimate goal of improving their outcomes and overall investing experience at Vanguard.”