Vanguard [see profile]
just lowered the price of six of its funds for many investors. Today the Valley Forge, Pennsylvania-based mutual fund giant unveiled
Admiral Shares for the funds in question, meaning investors who put in at least $10,000 can now buy the shares for 31 to 57 percent less.
Vanguard's Mid-Cap Growth Index Fund
, Mid-Cap Value Index Fund
, Small-Cap Growth Index Fund
and Small-Cap Value Index Fund
all now have Admiral Shares for 16 basis points less than Investor Shares, while the Developed Markets Index Fund
's Admiral Shares offer a 10 bps drop and the FTSE All World Ex-US Index Fund
's Admiral Shares offer a 17 bps drop.
According to Vanguard, 74 of its funds (including 38 index funds) now offer Admiral Shares.
Neil Anderson, Managing Editor
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