FYI: Institutional asset management has become a game of low-cost limbo, and Vanguard Group is moving the bar lower.
The Malvern, Pa., asset manager began offering very-low-cost “institutional select” share classes on six of its broadly diversified index funds in late June. The new share classes charge institutional investors expense ratios of just 0.01% to 0.045%, or $1 to $45 a year for every $10,000 invested.
Regards,
Ted
http://www.wsj.com/articles/whats-behind-the-ultracheap-funds-for-big-investors-1470621602
