Vanguard Lowers Minimums

Vanguard has reduced the minimum investment required to open an account for 27 funds, including several that have been prominent in the MONEYLETTER portfolios over the years. Interestingly, three of the largest and best-known funds remained closed to new investors: PRIMECAP (VPMCX), PRIMECAP Core (VPCCX) and Capital Opportunity (VHCOX). Vanguard did not announce plans to re-open those funds. This is an effort to set the minimums for the investor share classes of most Vanguard funds at $3,000.

Below are the affected funds in the MONEYLETTER database:

Old minimum = $25,000
New minimum = $3,000

Capital Opportunity (VHCOX)
Energy (VGENX)
Health Care (VGHCX)
PRIMECAP (VPMCX)
Selected Value (VASVX)

Old minimum = $10,000
New minimum = $3,000

Convertible Securities (VCVSX)
Mid-Cap Growth (VMGRX)
Precious Metals and Mining Fund (VGPMX)
PRIMECAP Core (VPCCX)
Strategic Equity (VSEQX)
Wellington (VWELX)
Windsor II (VWNFX)

For more information, call Vanguard 877-662-7447.