Liquidating a mutual fund
"It's partially because Vanguard has become a very large firm, and partially because the fund's assets are going the wrong way." The fund stopped taking new investors Thursday, and will close to all investments in early March, according to Vanguard. Glad you're here and we hope you like all the great work we do here at Investment News.
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"It's not a very large group of actively managed funds out there in this style," he said.
"Perhaps fewer investors are looking for a dedicated convertible slice." Ms.
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The 2 million mutual fund "has not gained broad acceptance among targeted investors," a company spokeswoman said.
Jeff De Maso, co-editor of The Independent Adviser for Vanguard Investors newsletter, shrugged off the liquidation as the cost of being a mutual fund behemoth.
"A billion-dollar fund would be a huge success at most firms, but with Vanguard's assets, it's just not worth the hassle anymore," he said.
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