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VG Wellesley and BP
Old 06-01-2010, 09:10 AM   #1
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VG Wellesley and BP

I was thinking about moving some funds to VG Wellesley this morning and happened to visit the web site to see what the yield was currently. While there I noticed the largest stock holding for Wellesley is BP. BP looks to be dropping a lot due to the gulf spill.

Think I'll wait a few days before moving cash in Wellesley. Anyone else know the impact of this situation on the fund?

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Old 06-01-2010, 09:24 AM   #2
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At the end of the 1Q BP stock was 1.7% of Wellesley. I read that to mean if BP went to zero (unlikely), Wellesley's haircut would be limited to that amount.

Numbers is hard.

Retired in 2005 at age 58, no pension

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Old 06-01-2010, 09:31 AM   #3
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Guess I should have dug deeper. If it's 1.7%, I assume that's the percentage of the stock portion only? Stocks are about 35% of total, so BP would only be about 0.6% of total fund then. Fairly small impact even if it went to zero as you mentioned. Guess I'll still wait till tomorrow. Hopefully a big part of the BP drop will be today.
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Old 06-01-2010, 09:40 AM   #4
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Look again. Portfolio holdings is as of end of March. Top ten holdings is as of end of April and BP was then at number 7.
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Old 06-01-2010, 09:43 AM   #5
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At the end of March, BP was 1.7% of VWINX, which then had a price of 20.75, while BP's price was 57. Today BP is trading at 38, so it has dropped 33%. The effect on the price of VWINX since March 31 is - 0.33 x 0.017 x 20.75 = - 0.12 (-12 cents)
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