July 28, 2016

Vanguard Closes Door on Dividend Growth

Let's start with a big piece of Vanguard news: This morning, without any prior warning, Vanguard closed Dividend Growth to all new investors. If you already own the fund, and I hope you've followed our advice to do so, you can continue to add money to it without restriction. If you don't own the fund, well, the best substitute in Vanguard's stable is Dividend Appreciation Index. The index fund is available in Investor, Admiral and ETF shares.

With just over $30 billion in assets, Dividend Growth is the fourth largest actively managed stock fund at Vanguard (behind Health Care, PRIMECAP and Windsor II), so it was probably only a matter of time before Vanguard closed the fund. Read More »

July 18, 2016

Vanguard's Multi-Manager Strategy Takes Another Hit

Just days after posting yet another defense of its multi-manager strategy, Vanguard again trimmed managers at funds including Capital Value and International Growth. It was just last month that Vanguard trimmed the management responsibilities at Explorer Value from three to two firms by firing Sterling Capital Management, something I dealt with in the July 2016 issue of The Independent Adviser for Vanguard Investors. Read More »

July 2016 PDF

U.K. to E.U.: Pee-Yew!

Invest for tomorrow, invest for the next year, or invest for the next decade? I think a lot of investors were pondering those questions during the final week of June as stock markets first crumbled under the weight of the result of the Brexit vote on June 23 and then staged rebounds. Ultimately, as negative as the initial reporting was, by the end of June, London's FTSE 100 index was up 4.4% for the month and actually 2.6% higher than where it stood prior to the Brexit vote. Read More »

Most Recent Forum Threads
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Re: Stock Holdings by Vanguard funds??

butwait (07-29-2016) wrote: Most online financial sites have stock, ETF, and mutual fund ownership information under "Holders" or "Shareholders." Some financial sites require registering and setting up a password, and some have subscriptions, and some don't. For example, two freebees are: Yahoo Finance's stock screen has a "Holders" tab showing Major... Read More »


Re: High CEO Pay Means Disappointing Stock Returns

Bax (07-29-2016) wrote: Good point ! I don't mind paying CEOs their "worth," so long as the company performs. However, I have HUGE problems with millions and millions of corporate monies being spent to buyback stock, thereby enhancing CEOs and management's stock options. There is a big distinction between... Read More »


Re: Closed funds

mf102 (07-29-2016) wrote: they generally close a fund because the amount of assets to be managed becomes too great. Consider a fund that buys only mid cap stocks. There are only so many stocks they are allowed to pick from. If they get too much money to invest they will be forced to... Read More »

Order your copy of the 2016 Independent Guide to the Vanguard Funds today

"America's leading expert on investing in Vanguard funds"

Daniel P. Wiener is editor of The Independent Adviser for Vanguard Investors, a monthly newsletter that keeps abreast of recent developments at Vanguard, and the annual FFSA Independent Guide to the Vanguard Funds. Through his newsletter and guide book, Dan helps tens of thousands of Vanguard investors choose wisely among more than 100 Vanguard mutual funds. The Adviser is a five-time winner of the Newsletter Publishers Foundation's Editorial Excellence Award. View More »

Vanguard Funds Correlation
What's This?
Model Portfolio Performance
Models June YTD
Growth -0.5% 1.9%
Conservative Growth -0.5% 2.0%
Income 0.3% 3.0%
Growth Index 0.6% 5.1%
The average
Vanguard investor
0.6% 3.3%
Past Performance »