admiral: Vanguard, it turns out, is keeping some of its lowest-cost products off the shelves of fund supermarkets like Fidelity and Schwab, according to The Independent. While investors can purchase most Vanguard mutual funds at these firms, they will have to buy directly from Vanguard if they want the lowest-cost Admiral shares of its actively managed funds. But when I tried to buy the Admiral class shares of a Vanguard mutual fund recently, I was politely told that it wasn't available no matter how good a customer I was. The situation is an odd one, and it's a byproduct of changes that Vanguard made last year in its dual-class structure of mutual funds. Investor shares have lower investment minimums and higher expense ratios than Admiral. Vanguard has long had two classes of shares Investor and Admiral.
(news.financializer.com). As
reported in the news.
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