Toronto-based Vanguard Investments Canada Inc., a wholly owned indirect subsidiary of Valley Forge, Pa.-based The Vanguard Group Inc., has filed a preliminary prospectus with Canadian securities regulators to offer four low-cost and actively managed mutual funds.
The offering represents Vanguard’s first suite of mutual funds in Canada and will complement the firm’s 36 ETFs.
The funds are expected to have a management fee of no greater than 0.5% for F-class units.
The funds are as follows:
> Vanguard Global Balanced Fund, which aims to provide long-term capital growth together with some current income. This fund will be sub-advised by Boston-based Wellington Management Canada LLC.
> Vanguard Global Dividend Fund, which seeks to offer an above-average level of current income together with long-term capital growth. This fund will be sub-advised by Wellington Management Canada and The Vanguard Group.
> Vanguard US Value Windsor Fund, which seeks to provide long-term capital appreciation and income. The fund will be sub-advised by Wellington Management Canada, New York-based Pzena Investment Management Inc. and The Vanguard Group.
> Vanguard International Growth Fund, which seeks to provide long-term capital appreciation. This fund will be sub-advised by Edinburgh, U.K.-based Baillie Gifford Overseas Ltd., New York-based Schroder Investment Management North America Inc. and The Vanguard Group.