Vanguard ready to launch small-cap index fund

The fund will aim to track the performance of the MSCI World Small Cap index, which includes companies with a market capitalisation of between €190m and €2.1m (£171m-1.9bn). It will offer unhedged shares in US dollars, euros and Swiss francs, with a total expense ratio of 0.60 per cent. It will also offer unhedged sterling income shares and accumulation shares with a TER of 0.40 per cent.