A low-cost leviathan is launching an actively managed fixed income mutual fund, its third core bond fund.
Yesterday, Sara Devereux
, global head of the fixed income group at Vanguard
the new Vanguard Core-Plus Bond Fund
. The fund is PMed by Michael Chang
, Arvind Narayanan
, Brian Quigley
, and Daniel Shaykevich
. It will start trading on October 25.
The new fund comes in Investor shares (VCPIX
, for 30 basis points) and Admiral shares (VCPAX
, for 20 bps). Vanguard serves as the fund's dividend-paying agent and transfer agent, as well as its investment advisor. JPMorgan Chase Bank
is the fund's custodian, while PricewaterhouseCoopers LLP
is its independent accounting firm.
Devereux's puts the launch in the context of Vanguard's broader efforts "to invest in active management talent and capabilities."
"This initiative represents our ongoing efforts to improve long-term investor outcomes by offering higher-potential return fixed income strategies with enduring investment merit at a low cost," Devereux states.
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