Seven Vanguard funds have started tracking new indexes developed by Morgan Stanley Capital International (MSCI), Vanguard announced last week.
The company said the transition to the new benchmarks did not cause any adverse tax burdens for shareholders. It expects over time that the new indexes will experience lower turnover than the current indexes, resulting in modestly lower transaction costs.
As Mutual Fund Market News reported in September, the new indexes replaced indexes from Standard and Poors on six of the funds, including the $7.8 billion Vanguard Growth Index Fund and the Russell 2000 Index on the $4.4 billion Vanguard Small-Cap Index Fund.
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