Lower fees please
Vanguard’s cuts are small in that they’re just a few basis points – but chunky reductions with respect to these already tiny fees:
Source: Vanguard Investor
What’s ironic is that these fee cuts have come when the expected returns from bonds are much higher.
Even ten basis points of fees made barely-there returns even worse when fixed income was brain-numbingly expensive back in 2020.
But with expected annual returns from UK bonds in the 4-5.5% range, smaller fees are gilding the lily.
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