Vanguard has launched the Vanguard Capital Value Fund, a spokesperson with the firm told the MutualFundWire.com. The fund is an actively managed one, the sixth of its kind at the House Index Funds Built.

The portfolio manager for the fund is Charles Freeman of Boston-headquartered Wellington Management Company. He also manages a large percentage of Vanguard's Windsor Fund (VWNDX). "This new fund can invest in capitalizations of all sizes, so you will be seeing more small and mid-sized companies than you see in the Windsor fund. Nonetheless, it will have a similar investment strategy to Windsor's," the spokesperson reported.

The spokesperson also contended that 2001 was a pretty good year for the company. "This was our third best year in terms of cash inflows," she explained. "We have very balanced offerings. We have a big roster of bond funds as well as equity funds. We don't put all of our eggs in one basket. And so far, our equity investors have been staying put, so it looks like our education is working."

Vanguard also released Admiral shares for some of its funds (55 as of today's discussion). This share class is intended for investors that have a certain minimum ($250,000) invested or who have been long-term investors in a fund. The fees for the Admiral shares are less than those for retail shares. "These have proven very popular," the spokesperson concluded. 

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