The Vanguard Group of Malvern, Pa. has filed with the Securities and Exchange Commission to offer its Admiral share class, a discounted share class available to some investors, on 13 of its bond funds, the company has announced.

The company's Admiral share class discounts expense ratios by as much as 14 basis points to those investors that meet account balance and tenure requirements, according to the company. Accounts eligible for the shares must have: balances over $50,000 and be 10 years or older; balances over $150,000, three years or older; or balances greater than $250,000.

While the Admiral shares will lower the expense ratio for investors that meet the requirements, investors who hold the funds' Investor Class shares will pay more in expenses, the company announced. For nine of the funds, the expense ratios will rise one or two basis points and the Vanguard Short-Term Corporate Fund's expense ratio will rise four basis points, according to Vanguard.

The funds that will include the Admiral shares are: The Vanguard Short-Term Treasury, Federal and Corporate funds; Intermediate-Term Treasury and Corporate funds; Vanguard GNMA fund; Long-Term Treasury and Corporate funds; Municipal Short-Term, Limited-Term, Intermediate-Term, Long-Term and Insured Long-Term funds.

Since offering the new share class in November of last year, Admiral shares have attracted $13 billion in assets, according to the company.

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