Plus: a prominent small-cap fund to reopen, a manager shuffle, and more.
Vanguard has announced projected 2006 distributions for several funds. Leading the pack is Vanguard International Growth
Shareholders of Vanguard Capital Opportunity
FBR to Reopen Small-Cap Fund
FBR recently announced it will reopen FBR Small Cap
The fund is nearing $1 billion in assets, but if history is a guide, FBR may close the fund again. It previously closed the fund because Akre found too few compelling investment opportunities for the large inflows of cash the fund saw in 2003 and 2004.
MFS Adjusts Manager Lineup for Several Growth Funds
MFS Investors Growth Stock
American Century Launches Three New Funds
American Century Investments launched three new funds. American Century Short Duration Bond and American Century Core Plus Bond will be managed by the firm's fixed-income team. Core Plus Bond will invest at least 65% of assets in the debt of investment-grade issuers, though it has the flexibility to invest up to 35% in high-yield bonds as well. Short Duration Bond will invest assets in investment-grade securities only, and its duration--a measure of interest rate sensitivity--will remain lower than three years.
The firm's quantitative group will run American Century International Core Equity Fund. The group will use computer models to select the most attractive stocks from the 2,500 largest companies outside the U.S. and Canada.