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Vanguard Extends Admiral Discounts to Bond Funds

New share classes for qualified investors have lower expense ratios.

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The Vanguard Group is extending its new, somewhat controversial, discount program to a baker's dozen of its bond funds.

The Valley Forge, Pa.-based fund family on Wednesday said next month it will begin offering low-cost Admiral share classes for 13 bond funds, including its largest fixed-income offering, Vanguard GNMA (VFIIX).

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Dan Culloton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.