"...Vanguard International Explorer™ Fund (the Fund), announced a restructuring of the Fund's investment advisory team by removing Baillie Gifford... In connection with the changes to the advisory arrangements, the Fund's expense ratio increased from 0.44% to 0.45%.
The restructuring of the investment advisory relationship resulted in portfolio activity that is expected to generate capital gains."
as admission of fault, vanguard will cover fee increase and cap gains by restructuring c-suite compensation....just kidding !!
