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Tuesday, August 24, 2004|
Vanguard Closes Fifth Fund in Eight Months
The Vanguard Group closed its $1.4 billion International Explorer fund on August 19. The fund is the second international fund to close in eight months, and the fifth Vanguard fund to do so.
Vanguard raised the minimum investment from $10,000 to $25,000 on January 15, but that move did not stop the tide of money. Vanguard said it received $500 million in inflows since January.
Schroder Investment Management, the fund's subadvisor, is "comfortable" with the fund's current asset size, officials stated in a release.
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