Vanguard To Charge Lowest Fee For Big Investors

Vanguard Group, the world’s largest mutual fund company, plans to apply a lower annual fee of as little as 0.01% for three of its funds as it competes with firms such as Charles Schwab to offer the lowest prices on indexed products.The firm manages over $3 trillion in assets globally, with the majority in funds that track indexes.

Vanguard to create new share class for some funds

In its Securities and Exchange Commission filing on Friday, Vanguard disclosed that it has applied to create a new class of shares for some funds that will charge investors as little as 0.01% or $1 for every $10,000 invested annually. The world’s biggest...