Vanguard is continuing its trend of cutting the legs out from under its competition by eliminating or reducing fees on 34 Vanguard funds.

As of May 23, the firm said its investors will no longer have to pay contingent redemption fees for selling shares of a number of index and actively managed Vanguard funds. “Because we have other measures in place to protect the interests of long-term investors and to discourage frequent trading, we determined that we no longer needed this fee,” according to its Web site.

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