Vanguard to Close One Fund, Reopen Another
Vanguard Group Inc., the second-largest U.S. mutual fund company, will close a global stock fund and reopen a high-yield fund that closed in June.
The $744-million Vanguard Global Equity Fund, managed by Marathon Asset Management of London, will be closed immediately to new investors, Vanguard spokeswoman Rebecca Cohen said Thursday. The Vanguard High-Yield Corporate Fund will reopen today.
The Global Equity Fund has a 39% return for the year, beating 86% of similarly managed funds, according to Bloomberg News data. The bond fund, managed by Wellington Management Co., has a return of 15% for the year.
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