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Vanguard Announces Fee Cuts, Fund Mergers

The moves are aimed at simplifying investing and lowering costs. These changes offer a win-win scenario for Vanguard investors.

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Today, Vanguard announced an array of changes that will make it cheaper to invest with the firm. It's also merging away five funds. Click here to see Vanguard's press release.

The passively managed $20.8 billion Vanguard Dividend Appreciation Index (VDAIX) will have new Admiral shares with a 0.10% expense ratio and a $10,000 minimum investment. That's a welcome savings on a fund currently charging 0.20% for the Investor share class. The Admiral shares will be available in December.

Russel Kinnel does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.