American investment management firm Vanguard has rolled out two new equity index funds in the UK.

The new Vanguard FTSE 100 Index Unit trust will invest in large companies in the UK, while the Vanguard FTSE Global All Cap Index fund will invest in companies of all sizes worlwide.

The UK vehicle will have an ongoing charge figure of 0.06%, while the global fund will charge 0.24%.

Vanguard head of UK distribution Robyn Laidlaw said: “Index investing is continuing to gain considerable traction in the UK, with assets under management in index funds more than doubling since 2012 to £122.83bn.

“These new funds provide additional options for UK investors looking to put together balanced, diversified, long-term investment portfolios, while controlling costs.”