(Bloomberg) -- Vanguard Group Inc., the world’s largest mutual fund company, filed to create a new share class for some funds that would charge institutional investors as little as one cent for every $100 invested.
The 0.01 percent annual fee, if approved by the U.S. Securities and Exchange Commission, will apply to three funds--the Vanguard Total Stock Market Index Fund, Vanguard Total Bond Market Index Fund and Vanguard S&P 500 Index Fund--according to company spokesman David Hoffman.
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