Vanguard Launches Three Mega Cap Index Funds

Vanguard has launched three new index funds that seek to track the MSCI US Large Cap 300 Index, MSCI US Large Cap Growth Index, and MSCI US Large Cap Value Index.

Institutional Shares of the new funds can be purchased directly from Vanguard, and will feature an expense ratio of 0.08% for investments of $5 million or more, the release said.

Exchange-traded funds (ETF) tracking these indexes, the Vanguard Mega Cap 300 Index Fund (MGC), Vanguard Mega Cap 300 Growth Index Fund (MGK), and Vanguard Mega Cap 300 Value Index Fund (MGV), have begun trading on NYSE Arca, according to a press release. The ETF shares will have an expense ratio of 0.13%.

The new funds are managed by Vanguard Quantitative Equity Group, which oversees more than $545 billion in indexed assets.