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S&P affirms four Vanguard Australian Fixed Interest Fund Ratings

10 Jul 2012
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Standard & Poor’s Fund Services has affirmed four ratings on Vanguard funds that cover passive strategies in the Australian fixed interest peer group.

Three funds rated four stars are Vanguard Australian Fixed Interest Index, Vanguard Australian Government Bond Index, and the Vanguard Cash Reserve Fund. The Vanguard Cash Plus Index Fund is rated three stars. 

All four strategies continue to provide a low-cost total return exposure to each of the funds’ reference benchmarks. After a review of its fee levels and due to its scale Vanguard has been able to reduce the management fee on the Vanguard Australian Fixed Interest Index Fund from 0.29% to 0.24%, effective 1 August 2012. 

Since our last review, we also note that Vanguard’s overall capability has improved with the implementation of BlackRock Solutions. “We believe that the fixed interest team is capable in successfully executing these strategies to meet their objectives due to their highly process-driven approach,” said S&P fund analyst Leader Simatupang.

10 July 2012

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