02/22/2018 13:59 EST | Updated 02/22/2018 14:00 EST

Vanguard Investments to introduce its first mutual funds in Canada

TORONTO — Vanguard Investments Canada Inc. says it has filed a preliminary prospectus with Canadian securities regulators to offer four low-cost and actively managed mutual funds.

This represents Vanguard's first suite of mutual funds in Canada and will complement the firm's 36 exchange-traded funds in the country.

The mutual funds are each expected to have a maximum management fee of 0.50 per cent.

They will include a global balanced fund, a global dividend fund, an international growth fund and a fund that seeks to provide long-term capital appreciation and income.

Vanguard has over $14 billion in assets in Canada through its ETF offerings.