Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 12-17-2010, 02:08 PM   #21
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2007
Posts: 5,072
Quote:
Originally Posted by jayc View Post
I have owned this fund for 13 months in an IRA rollover acct. I was transferring all of VFIIX (GNMA) to their MM account. It said something about do to high volume of redemptions in this fund the max is $10K. I lowered my transfer to $10K and it took it.
Sorry I was a little unclear about your statement. Are you saying they would only let you sell $10k of the GMNA? Or only let you put $10K into the MM Account.
__________________

__________________
chinaco is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 12-17-2010, 02:31 PM   #22
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2006
Posts: 11,017
Quote:
Originally Posted by jayc View Post
I have owned this fund for 13 months in an IRA rollover acct. I was transferring all of VFIIX (GNMA) to their MM account. It said something about do to high volume of redemptions in this fund the max is $10K. I lowered my transfer to $10K and it took it.
I've seen a number of low volume investments, including REITs, exercise redemption limits when there was a lot of panic trading. There has been a lot of press lately about the desirability of getting out of bonds and into equities. They are just trying to avoid a run on their fund.
__________________

__________________
Meadbh is offline   Reply With Quote
Old 12-17-2010, 02:38 PM   #23
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jun 2005
Posts: 8,616
Uh-oh. I seem to have contributed to the OP's problem. I sold big chunks of Vanguard GNMA earlier in November & December. There were no $10K restrictions at that time.
__________________
LOL! is offline   Reply With Quote
Old 12-17-2010, 02:59 PM   #24
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2007
Posts: 5,072
Quote:
As reported earlier, the Vanguard Total Stock Market ETF (VTI) had a one-day spike of new issues on Dec. 9 worth about $5.1 billion.
Vanguard Total Stock Market ETF: A $5.1 Billion Inflow - Focus on Funds - Barrons.com


Quote:
Taxable bond funds saw net outflows of $401 million during the week ending Dec. 8. The last time the category saw weekly net outflows was the week ending Dec. 10, 2008.
Mutual fund investors exiting bond funds FundWatch - MarketWatch
__________________
chinaco is offline   Reply With Quote
Old 12-17-2010, 03:52 PM   #25
Recycles dryer sheets
 
Join Date: May 2010
Location: SW Ohio
Posts: 360
I called and they tracked down the transaction. It was the destination MM that had the restriction of 10K. It was the MM they rolled my 401K into last year and it still has about $30K in it.

Who would of guessed your MM sweep account had an input limit?

Can you redeem funds at this place and just put the money in a cash acct?

Their short answer was pick another fund. I will call them back for more info on this.
__________________
jayc is offline   Reply With Quote
Old 12-17-2010, 03:53 PM   #26
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Quote:
Originally Posted by Texas Proud View Post
You should not get this issue with other fund companies.... but they don't try and protect existing shareholders like Vanguard does... as they say, if you don't like it... move...
If by protect, you mean bully, harass, or generally make life difficult, then ok.........

VG is like a soup Nazi on their funds. Redemptions should not be a big deal, but they seem to be at VG........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Old 12-17-2010, 04:07 PM   #27
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,080
Quote:
Originally Posted by jayc View Post
I called and they tracked down the transaction. It was the destination MM that had the restriction of 10K. It was the MM they rolled my 401K into last year and it still has about $30K in it.
So it had nothing to do with limiting what you could sell from your bond fund. The problem appears to be you were attempting to transfer the proceeds from that sale to one of their two "closed to new investors and deposits from existing investors limited to $10K" money market funds - Admiral Treasury Money Market (VUSXX) and Federal Money Market (VMFXX) - and you were not aware of the limit.

No bond panic, no restrictions on selling shares, no soup Nazis...
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 12-17-2010, 04:44 PM   #28
Thinks s/he gets paid by the post
veremchuka's Avatar
 
Join Date: Oct 2010
Location: irradiated - too close to the nuclear furnace
Posts: 1,294
well i'm glad to read that. i moved a lot of my 401k when i retired to vg and put it into the pmm then moved it to gnma but that was a few years ago. i'm not going to move any gnma funds but i'm glad to see there is no restriction if i did want to. i have a nav that may force me to bail but where would you put the money? i can't put it into equity mutual funds as that'd really change my aa so if i did i'd then have to move all my 401k equity funds to my stable value fund but there are restrictions on that (exchanging out of the equity funds) and they are severe! sitting tight for now.
__________________
veremchuka is offline   Reply With Quote
Old 12-17-2010, 05:25 PM   #29
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 13,263
Quote:
Originally Posted by FinanceDude View Post
If by protect, you mean bully, harass, or generally make life difficult, then ok.........

VG is like a soup Nazi on their funds. Redemptions should not be a big deal, but they seem to be at VG........

Actually, I have never had a problem with VG... there are funds that have investment limits (Primecap is $25K IIRC)... they state it upfront from waht I can tell..

They also do have restrictions on trading in and out of a fund... I took money out of a fund and before I click the final button they said that IF I did this I could not invest for 90 days... OK, good to know... but they did not prevent me from taking more money out the next week... still 90 days, but who cares... I can live with that...

I just don't want someone to be moving around big money to try and clip a few bps for them, but increase the trading cost to everybody else...

If this makes them soup nazis... so be it... I am OK with that...

As I said, I have never had a problem as I know upfront what I can and can not do...


NOW... if you do have a problem... but ETFs.... you can buy and sell every minute if you want... no restrictions... and still be in a VG fund...
__________________
Texas Proud is online now   Reply With Quote
Old 12-17-2010, 06:19 PM   #30
Thinks s/he gets paid by the post
teejayevans's Avatar
 
Join Date: Sep 2006
Posts: 1,220
Quote:
Originally Posted by FinanceDude View Post
If by protect, you mean bully, harass, or generally make life difficult, then ok.........

VG is like a soup Nazi on their funds. Redemptions should not be a big deal, but they seem to be at VG........
You could use ETFs and not worry about it
TJ
__________________
teejayevans is offline   Reply With Quote
Old 12-17-2010, 06:24 PM   #31
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jun 2005
Posts: 8,616
Quote:
Originally Posted by teejayevans View Post
You could use ETFs and not worry about it
TJ
What is the ETF equivalent for the GNMA fund?
__________________
LOL! is offline   Reply With Quote
Old 12-17-2010, 06:44 PM   #32
Full time employment: Posting here.
 
Join Date: Nov 2009
Posts: 510
Quote:
Originally Posted by REWahoo View Post
So it had nothing to do with limiting what you could sell from your bond fund. The problem appears to be you were attempting to transfer the proceeds from that sale to one of their two "closed to new investors and deposits from existing investors limited to $10K" money market funds - Admiral Treasury Money Market (VUSXX) and Federal Money Market (VMFXX) - and you were not aware of the limit.

No bond panic, no restrictions on selling shares, no soup Nazis...

The entire amount could have been transferred to their Prime Money Market account - which is not closed to new investors or restricted to 10K/day purchases. Pretty sure Vanguard would have informed the OP when he called and inquired as to his situation.
__________________
fritz is offline   Reply With Quote
Old 12-17-2010, 06:57 PM   #33
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,080
Quote:
Originally Posted by fritz View Post
The entire amount could have been transferred to their Prime Money Market account - which is not closed to new investors or restricted to 10K/day purchases. Pretty sure Vanguard would have informed the OP when he called and inquired as to his situation.
Agreed. I believe that's exactly what they did:
Quote:
Originally Posted by jayc View Post
I called and they tracked down the transaction.

....Their short answer was pick another fund.
Several posters voiced concerns about limits placed on the sale of bond funds. My post was to make it clear that wasn't the case.
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 12-17-2010, 07:19 PM   #34
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
donheff's Avatar
 
Join Date: Feb 2006
Location: Washington, DC
Posts: 8,641
Quote:
Originally Posted by FinanceDude View Post
If by protect, you mean bully, harass, or generally make life difficult, then ok.........

VG is like a soup Nazi on their funds. Redemptions should not be a big deal, but they seem to be at VG........
I don't see it. I pulled out large amounts to pay off mortgages online, overnight, with no problem whatsoever. I did get warnings about reinvesting in the same funds but I didn't see that as a problem.
__________________
Every man is, or hopes to be, an Idler. -- Samuel Johnson
donheff is online now   Reply With Quote
Old 12-17-2010, 09:02 PM   #35
Administrator
Gumby's Avatar
 
Join Date: Apr 2006
Posts: 10,137
Quote:
Originally Posted by LOL! View Post
What is the ETF equivalent for the GNMA fund?
Perhaps MBB would do the trick.
__________________
Living an analog life in the Digital Age.
Gumby is offline   Reply With Quote
Old 12-17-2010, 09:31 PM   #36
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jun 2005
Posts: 8,616
Quote:
Originally Posted by Gumby View Post
Perhaps MBB would do the trick.
Perhaps. MBB has mortgage-backed securities alright, but not much in the way of GNMAs. One could look at VBMS as well, but the same problem along with a problem of liquidity.
__________________
LOL! is offline   Reply With Quote
Old 12-17-2010, 09:36 PM   #37
Thinks s/he gets paid by the post
Keim's Avatar
 
Join Date: Feb 2007
Location: Moscow
Posts: 1,128
Quote:
Originally Posted by donheff View Post
I don't see it. I pulled out large amounts to pay off mortgages online, overnight, with no problem whatsoever. I did get warnings about reinvesting in the same funds but I didn't see that as a problem.
Ditto here. Was very pleased with their service.
__________________
You can't enlighten the unconscious.
But you can hit'em upside the head a few times to make sure they are really out...
Keim is offline   Reply With Quote
Old 12-18-2010, 08:19 AM   #38
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
 
Join Date: Mar 2007
Posts: 9,878
I bet people don't have these hassles at Ameriprise!
__________________
Yes, I have achieved work / life balance.
travelover is offline   Reply With Quote
Old 12-18-2010, 08:56 AM   #39
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Quote:
Originally Posted by donheff View Post
I don't see it. I pulled out large amounts to pay off mortgages online, overnight, with no problem whatsoever. I did get warnings about reinvesting in the same funds but I didn't see that as a problem.
Why should it matter if people pull funds and reinvest, its up to them? Almost all fund families, I think Fido is included, let you do it without restrictions.
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Old 12-18-2010, 09:29 AM   #40
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jun 2005
Posts: 8,616
There can be early redemption fees. Fido has them and they will wrist-slap you if you buy back into a fund within a short time period.
__________________

__________________
LOL! is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
need help with moving roth ira to vanguard..should i wait or do it ASAP? dooo42 FIRE and Money 2 07-28-2010 09:29 PM
Take SS ASAP and Invest it instead of waiting? Dennis FIRE and Money 38 01-20-2009 05:45 AM
Help ASAP: FIRE Calculator tangomonster FIRE and Money 40 11-13-2008 11:26 AM
24 and want to retire ASAP xynny Hi, I am... 19 06-04-2008 06:15 AM
Need opinion on insurance ASAP, please Lena Young Dreamers 4 06-08-2006 09:36 PM

 

 
All times are GMT -6. The time now is 09:11 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.