Vanguard Group on June 10, 2005, introduced a low-cost version of the $9-billion Vanguard Inflation Protected Securities (VIPSX), and a new fund that invests in eight other Vanguard funds.
The fund company began offering Admiral class shares of the Inflation Protected Securities fund. Those shares feature lower expenses than investor class shares.
The new version of the fund has an expense ratio of 0.11%, compared to 0.17% for investor shares, according to Vanguard. The fund invests in inflation-protected bonds with an average maturity of 7 to 20 years. The securities are issued by the U.S. Treasury and government agencies, and domestic corporations.
The company also debuted its Diversified Equity fund, a so-called fund of funds.