Vanguard has stopped accepting new accounts in Vanguard® Strategic Equity Fund effective at 4 p.m., Eastern time, on Thursday, April 20, 2006. Existing shareholders with open fund accounts may continue to purchase new shares in their accounts.
The boards of trustees of two Vanguard® mutual funds have raised the funds' minimum initial investment requirements and implemented annual purchase limits as a means of tempering cash inflows and protecting current shareholders.
Effective at 4 p.m., Eastern time, on April 20, 2006, the minimum initial investment for Vanguard® Wellington™ Fund and Vanguard Windsor™ II Fund was increased to $10,000 from $3,000.
In addition, each fund will limit purchases of shares to $25,000 per calendar year. For 2006, the annual limit will apply to purchases after April 20. This change will affect all retail accounts held by new and existing shareholders in both Investor and Admiral™ share classes.
Numbers is hard
Charter resident of the lumpen slums of cyberspace
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In other VG news, they are starting a new fund today called Strategic Small Cap Equity fund. It is small cap blend. Sounds like it will be run similarly to the Strategic Equity fund (mid cap) that just closed.
Still waiting on news about their "dividend appreciation" fund.
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