Vanguard says that 42 of its mutual funds, including seven ETFs and four target-date funds, are now being offered to investors with lower fees.
According to the fund group, those invested in the funds recently saved $55 million as of Friday. This is the third announced reduction in Vanguard's fiscal year 2015; the reported changes have helped investors in 130 fund shares save a total of $142 million.
"The continued adoption of the Vanguard way of investing, coupled with asset growth related to favorable financial markets, enables us to reduce the cost of investing for all our investors, from financial advisors and institutional investors to IRA savers and 529 plan holders," said Vanguard CEO Bill McNabb, in a statement.
"While Vanguard has some of the lowest-cost mutual funds and ETFs in the industry, low costs have not come at the expense of providing competitive investment performance, a broad array of funds and other services, and a high level of client service," McNabb explained.
The reported expense reductions include different classes of fund shares, such as Investor, Admiral ETF, Institutional, and Institutional Plus, for the 12 months ended Oct. 31, 2015; they also encompass seven fund categories — international stock index, international actively managed stock, international bond index, domestic stock index, domestic actively managed stock, target-risk and tax-exempt money market.
