Vanguard Group will add Admiral Shares, a low-cost share class, for 18 funds, including stock, bond and sector funds. Since November 2000, Vanguard has made Admiral shares available for 34 funds. With the new funds, Vanguard will have made Admiral shares available for close to half of its 108 U.S. funds
Investors converting Investor Shares will save between four and eight basis points, the largest savings coming from the Health Care and the Energy funds. The smallest savings come from two tax-managed funds, Capital Appreciation and Growth & Income.
Individual shareholders who meet account balance size and tenure requirements are eligible to convert their funds to Admiral Shares, both in regular and IRA accounts. "Vanguard is encouraging shareholders to make conversion requests through its Web site," the company said in a statement.