Want the latest retirement plan adviser news and insights? Sign up for PLANADVISER newsletters.
Products March 16, 2010
Vanguard Adds Actively Managed Stock Fund
Vanguard is adding to its family of 30 actively managed stock funds the Vanguard Explorer Value Fund, which focuses primarily on stocks of small and medium-sized U.S. companies.
Reported by Rebecca Moore
Vanguard said the fund is expected to hold a portfolio of fewer than 200 securities, and to maintain valuation measures and an average market capitalization comparable to its benchmark index, the Russell 2500 Value Index. The fund is now accepting investments during a two-week subscription period that is expected to conclude on March 30.
Vanguard Explorer Value Fund requires a minimum initial investment of $10,000, and the fund is expected to have an expense ratio of 0.59%.
According to Vanguard, following the subscription period, fund assets will be divided equally among three advisory firms: Cardinal Capital Management, L.L.C., a Connecticut-based investment adviser; Sterling Capital Management LLC, based in North Carolina; and Frontier Capital Management Co., LLC is a Boston-based investment manager.