Vanguard lowers minimums for admiral shares of index funds

by Phiery

From Vanguard Ratchets Up Index-Fund Price Battle in The Wall Street Journal:

Vanguard Group is lowering the minimum amounts customers need to invest to get cheaper prices on more than three dozen of its index funds.

The $5.3 trillion indexing giant’s move is the latest salvo in Vanguard’s push to lure investors from rivals at a time asset managers are under pressure to slash the costs of funds.

Starting Monday, the firm is lowering the minimums for admiral shares—a share class that costs less than regular investor classes—to $3,000 from $10,000 for 38 index mutual funds. The funds make up the majority of Vanguard’s index funds that are available to individual investors and include some of the industry’s largest stock and bond index funds.

Also, official communications from Vanguard: investornews.vanguard/our-index-funds-changed-investing-forever-now-were-making-them-even-better/