Vanguard to Add Two Funds to Those Offering Institutional Shares

November 22, 2005 ( - The Vanguard Group has filed a registration statement with the US Securities and Exchange Commission (SEC) to create an Institutional Share class of Vanguard Intermediate-Term Bond Index Fund and Vanguard Long-Term Bond Index Fund.

In its press release, Vanguard said it currently has 29 institutional investment offerings appropriate for pension plans, endowments and foundations, and corporate assets.   The two new funds will round out Vanguard’s current institutional fixed income lineup, which includes Vanguard Prime Money Market Fund, Vanguard Inflation-Protected Securities Fund, Vanguard Short-Term Investment-Grade Fund, and two total bond market index portfolios.

Vanguard said The Institutional Shares of Vanguard Intermediate-Term and Vanguard Long-Term Bond Index Funds are expected to feature annual expense ratios of 0.08% and 0.09%, respectively. The minimum initial investment requirement will be $25 million.

The new offerings are expected to be available in January 2006.