Standard and Poor's rates Vanguard fee cut
A decision by Vanguard Investments to reduce the management fees on a number of its wholesale managed investment products has not prompted a change in ratings by Standard & Poor's.
The rating house this week affirmed its ratings on Vanguard's S&P-rated funds, following the company's announcement on the fees approach.
The management fee reductions are due to take effect from the beginning of August and S&P said each of the funds to receive the fee reductions were rated four stars.
The proposed fee reductions range across Vanguard's equities, listed property, and fixed interest wholesale managed fund suite, but not all of Vanguard's management fees will be reduced.
Commenting on the rating, S&P's head of research Leanne Milton said that while not all of Vanguard's management fees had been reduced, the fee reductions announced were significant and represented a positive outcome for investors in those funds.
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