Vanguard lowers fees on VAS
The investment giant has reduced management fees for the Vanguard Australian Shares Index ETF (VAS) from 0.10% to 0.07% per annum.
The fee change will be effective from July 3 and follows a periodic review of Vanguard's pricing and funds.
"At Vanguard we regularly assess our product offer against our commitment to deliver low-cost, high-quality products that are best in class," it said.
At the end of May, VAS returned 8.02% p.a. on a 10-year period.
"We aim to continue to enhance our product offer in line with this goal. This robust review process includes a pricing review of our funds with the aim of passing on any savings to investors where possible," Vanguard said.
In the last decade, Vanguard said it's delivered over 40 fee reductions across its product range, including the most recent reduction for its Australian Fixed Income ETF (VAF).
In April, it reduced managements costs for the VAF from 0.15% to 0.10% p.a. citing its ongoing commitment to bring down costs.
"As an across-the-board low-cost fund provider, keeping costs low has been an important way that Vanguard has helped investors achieve financial goals and we continue to deliver this benefit to our investors globally," it commented.
"We are committed to gradually reducing management fees as our range of broadly diversified funds and ETFs grow in scale."
Get stories like this in our newsletters.