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April 29, 2003 at 08:00 PM
April 25, 2003 — Vanguard Group will add redemption fees to some of its international stock funds in June in an effort to discourage investors from trying to profit from time and pricing differences between U.S. and foreign markets.
The fees are aimed at curbing “limited arbitrage activity currently evident,” said Gus Sauter, a managing director in charge of Vanguard’s quantitative equity group, which oversees its index funds.
The 2% fees will apply to shares purchased on or after June 27 and held less than two months.
The fees will be added to three actively managed portfolios: Vanguard International Growth (VWIGX), Vanguard International Value (VTRIX), and Vanguard International Explorer (VINEX).
