The firm has filed a registration statement with the U.S. Securities and Exchange Commission for Vanguard Target Retirement 2055 Fund, and anticipates that the fund, aimed at investors 18 to 22 years old, will be available for investment in the third quarter of 2010. As with the existing Target Retirement Funds, the 2055 Fund will invest in other low-cost Vanguard index funds, according to a press release.
The expense ratio of the new fund is expected to be 0.19%, similar to that of the other funds in the lineup. Vanguard noted that the average industry expense ratio for a target-date fund in the 2055 Fund’s peer group is 1.17%, according to Lipper, Inc.
The original six Vanguard Target Retirement Funds were introduced in 2003: the 2005, 2015, 2025, 2035, and 2045 funds, and an income fund. In 2006, Vanguard launched an additional five funds: 2010, 2020, 2030, 2040, and 2050.
More information is here.