TORONTO, June 24, 2016 /CNW/ - Vanguard Investments Canada Inc. today announced a revision to the annual management report of fund performance for the TSX-listed Vanguard FTSE Developed All Cap ex North America Index ETF.
The updated report reflects a change to the trading expense ratio of the fund for the year ended December 31, 2015. Previously, the trading expense ratio reflected total gross commissions and other portfolio transaction costs expressed as an annualized percentage of daily average net asset value, during that period. Fees however may be charged to designated brokers and dealers to offset the impact of certain transaction costs associated with purchase or redemption of units of the Fund.
During the year ended December 31, 2015, the Fund collected such fees to offset the impact of transaction costs and the Fund did not bear the full transaction costs as previously stated in the gross calculation. The revised trading expense ratio now reflects this adjustment.
The actual amount of fees paid by clients who own these funds has not changed. Vanguard is disclosing this information as part of its ongoing commitment to providing investors with full transparency.
Vanguard Investments Canada Inc. is a wholly owned indirect subsidiary of The Vanguard Group, Inc. and manages more than CAD $8 billion in assets. The Vanguard Group, Inc. is one of the world's largest investment management companies and a leading provider of company-sponsored retirement plan services. Vanguard manages USD$3.5 trillion in global assets, including over USD$500 billion in global ETF assets. Vanguard has offices in the United States, Canada, Europe, Australia and Asia. The firm offers more than 340 funds, including ETFs, to its more than 20 million investors worldwide.
Vanguard operates under a unique operating structure. Unlike firms that are publicly held or owned by a small group of individuals, The Vanguard Group, Inc. is owned by Vanguard's U.S.-domiciled funds and ETFs. Those funds, in turn, are owned by Vanguard clients. This unique mutual structure aligns Vanguard interests with those of its investors and drives the culture, philosophy, and policies throughout the Vanguard organization worldwide. As a result, Canadian investors benefit from Vanguard's stability and experience, low-cost investing, and client focus. For more information, please visit vanguardcanada.ca.
Commissions, management fees, and expenses all may be associated with investments in a Vanguard ETF®. Investment objectives, risks, fees, expenses, and other important information are contained in the prospectus; please read it before investing. ETFs are not guaranteed, their values change frequently, and past performance may not be repeated. Vanguard ETFs® are managed by Vanguard Investments Canada Inc., an indirect wholly-owned subsidiary of The Vanguard Group, Inc.
In this material, references to "Vanguard" are provided for convenience only and may refer to, where applicable, only The Vanguard Group, Inc., and/or may include its affiliates, including Vanguard Investments Canada Inc.
All investments, including those that seek to track indexes, are subject to risk, including the possible loss of principal. Diversification does not ensure a profit or protect against a loss in a declining market. Any given ETF may not be a diversified investment. Foreign investing involves additional risks, including currency fluctuations and political uncertainty. Stocks of companies in emerging markets are generally more risky than stocks of companies in developed countries.
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SOURCE Vanguard Investments Canada Inc.
For further information: Matt Gierasimczuk, Vanguard Canada Public Relations, Phone: 416-263-7087, [email protected]