Vanguard will reduce the management fees charged on its flagship Australian shares exchange-traded fund by 30 per cent in response to a series of fee cuts by rivals in the hotly contested market.
The world’s second-largest asset manager on Thursday said it would cut the management fee charged to unitholders of its ASX-listed Vanguard Australian Shares Index ETF to 0.07 per cent a year from 0.10 per cent, effective July 3.
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Aleks Vickovich leads the Financial Review's coverage of wealth management, specialising in the business and regulation of investment markets, financial advice and superannuation. Email Aleks at aleks.vickovich@afr.com
