Vanguard said Tuesday that it has cut expense ratios for seven actively managed mutual funds and one index ETF. This wave of reduced fees comes after a similar announcement in December.
The asset manager, which works with some $8.5 trillion in investments, says the latest reductions resulted in investor refunds of $4.4 million.
“The breadth and success of Vanguard’s active franchise have contributed to asset growth and operational efficiencies, enabling the firm to drive down expense ratios across its active lineup,” the firm said in a statement.
Vanguard added that Tuesday’s news “represents the second of six rounds of annual prospectus updates in Vanguard’s 2021-2022 fiscal-year reporting period, which runs from December  to May .”