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Vanguard Takes Aim at U.K. as Fees Replace Advisor Commissions

Charles Stein and Kevin Crowley

Vanguard Group Inc. rose to the top of the U.S. mutual fund industry by preaching the merits of cheap index-tracking funds. Now it wants to convert U.K. investors as that country enacts new rules that may lower fund costs that are among the highest in the developed world.

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