Unified Financial Services of Indianapolis in late April launched six index funds and an actively-managed Internet fund. All of the funds have expense ratios of only 0.35 percent.
"I'm a huge fan of Vanguard and [Vanguard founder] Jack Bogle. We believe the investor deserves a break, just like Bogle does," said Jack Orben, the head of Fiduciary Council, one of Unified's 22 subsidiaries.
The six index funds are: the Unified Select 30 Index Fund (which tracks the performance of the Dow Jones Industrial Average), the Unified Select 500 Index Fund (which tracks the performance of the Standard & Poor's 500 Composite Stock Price Index), the Unified Select 2000 Index Fund (which tracks the Russell 2000), the Unified Select International Equity Index Fund (which tracks the Morgan Stanley Capital International Europe, Australia and Far East Index), Unified Select REIT Fund (which tracks the Morgan Stanley Real Estate Investment Trust Index), and the Unified Select Bond Index Fund (which tracks the performance of the Lehman Brothers Aggregate Bond Index).