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Tuesday, June 18, 2013

Vanguard Peddles Coffee

News summary by MFWire's editors

Vanguard Group[profile] is doing something unusual; getting into the coffee business, reports InvestmentNews. The company has sent red coffee trucks to San Diego, San Francisco, Chicago and Washington D.C. Those stops have procured $5,938 worth of savings from 5,700 sales so far.

The coffee truck sells $0.26 cups of coffee which cost one-fifth of the average cup of Joe. Vanguard's funds are on average one-fifth of the cost of an average fund.

Jason Kephart's guess is that Vanguard investors don't need the coffee to understand the importance of low-cost mutual funds:

"U.S. equity mutual funds and exchange-traded funds with expense ratios in the lowest quartile have had net inflows of $442 billion over the past decade, according to Morningstar data collected by Vanguard. Equity funds and ETFs with higher expense ratios saw investors flee to the tune of $368 billion over the same time period." 

Edited by: Casey Quinlan

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