Vanguard Dividend Growth Closes to New Investors
We see the partial closing of the $30 billion fund as welcome news.
Vanguard announced today that Vanguard Dividend Growth (VDIGX) has closed to new investors. Assets topped $30 billion. It is welcome news, as I wouldn’t want asset growth to overwhelm Wellington’s ability to run the fund. It has a Morningstar Analyst Rating of Gold, as Donald Kilbride has done a great job.
"Vanguard is proactively taking steps to slow strong cash flows to help ensure that the advisor's ability to produce competitive long-term results for investors is not compromised," said Vanguard CEO Bill McNabb. "We have long been committed to protecting the interests of our funds' shareholders, and demonstrate this conviction by closing or restricting funds to stem further growth."
Russel Kinnel does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.
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