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12-17-2010, 01:08 PM
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#21
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Feb 2007
Posts: 5,072
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 Quote:
Originally Posted by jayc
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.
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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.
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12-17-2010, 01:31 PM
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#22
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Jul 2006
Posts: 11,401
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Quote:
Originally Posted by jayc
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.
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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.
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12-17-2010, 01:38 PM
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#23
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Jun 2005
Posts: 10,252
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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.
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12-17-2010, 02:52 PM
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#25
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Recycles dryer sheets
Join Date: May 2010
Location: SW Ohio
Posts: 360
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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.
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12-17-2010, 02:53 PM
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#26
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Aug 2006
Posts: 12,483
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Quote:
Originally Posted by Texas Proud
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...
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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.........:)
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12-17-2010, 03:07 PM
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#27
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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Quote:
Originally Posted by jayc
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.
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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
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12-17-2010, 03:44 PM
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#28
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Thinks s/he gets paid by the post
Join Date: Oct 2010
Location: irradiated - too close to the nuclear furnace
Posts: 1,294
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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.
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12-17-2010, 04:25 PM
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#29
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Give me a museum and I'll fill it. (Picasso)
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Join Date: May 2005
Posts: 17,239
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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...
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12-17-2010, 05:19 PM
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#30
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Thinks s/he gets paid by the post
Join Date: Sep 2006
Posts: 1,691
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You could use ETFs and not worry about it
TJ
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12-17-2010, 05:24 PM
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#31
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Jun 2005
Posts: 10,252
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Quote:
Originally Posted by teejayevans
You could use ETFs and not worry about it
TJ
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What is the ETF equivalent for the GNMA fund?
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12-17-2010, 05:44 PM
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#32
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Full time employment: Posting here.
Join Date: Nov 2009
Posts: 592
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Quote:
Originally Posted by REWahoo
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...
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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.
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12-17-2010, 05:57 PM
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#33
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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Quote:
Originally Posted by fritz
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.
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Agreed. I believe that's exactly what they did:
Quote:
Originally Posted by jayc
I called and they tracked down the transaction.
....Their short answer was pick another fund.
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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
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12-17-2010, 06:19 PM
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#34
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Feb 2006
Location: Washington, DC
Posts: 11,327
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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.
__________________
Idleness is fatal only to the mediocre -- Albert Camus
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12-17-2010, 08:02 PM
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#35
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Administrator
Join Date: Apr 2006
Posts: 23,037
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Quote:
Originally Posted by LOL!
What is the ETF equivalent for the GNMA fund?
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Perhaps MBB would do the trick.
__________________
Living an analog life in the Digital Age.
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12-17-2010, 08:31 PM
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#36
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Jun 2005
Posts: 10,252
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Quote:
Originally Posted by Gumby
Perhaps MBB would do the trick.
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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.
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12-17-2010, 08:36 PM
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#37
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Location: Moscow
Posts: 1,572
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Quote:
Originally Posted by donheff
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.
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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...
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12-18-2010, 07:19 AM
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#38
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Mar 2007
Posts: 14,328
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I bet people don't have these hassles at Ameriprise! 
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12-18-2010, 07:56 AM
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#39
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Aug 2006
Posts: 12,483
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Quote:
Originally Posted by donheff
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.
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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.........:)
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12-18-2010, 08:29 AM
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#40
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Jun 2005
Posts: 10,252
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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.
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