Vanguard announced December 11 that it will launch a new mutual fund in the first quarter of 2009 that will be the firm’s first international small-cap index fund.
The Vanguard FTSE All-World ex-U.S. Small-Cap Index Fund will use the FTSE Global Small Cap ex-U.S. Index as its target benchmark, and will have three share classes: investor, institutional, and ETF.