Ongoing charges for Vanguard's index mutual funds (A GBP and Pound sterling Income/ Accumulation share classes) will now range from 0.08% to 0.38%. Meanwhile, the ETF line-up will now range from 0.07% to 0.29%. Ongoing charges for the LifeStrategy Fund range, which comprises five portfolios are now 0.24%.
“As we broaden our presence in Europe, we will leverage operating efficiencies and use our increasing global scale to keep costs to a minimum for investors,” Tom Rampulla, managing director for Vanguard in Europe, commented.
The new charges will be effective from 1 September, available across all major UK distribution platforms to both new and existing investors.
In May, Fidelity Worldwide announced its competitive price cuts on passive index tracker funds when it reduced the charges on six of its seven recently launched equity index range.
The new ongoing charges are as follows.
