MutualFundWire.com
   The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
Monday, February 22, 1999 Vanguard Celebrates Tax Season With New Tax-Managed Fund The Valley Forge based Vanguard Group launched its fourth tax-managed mutual fund, the Vanguard Tax-Managed Small-Cap Fund today.
The new fund will invest in a substantial portion of all stocks in the S&P SmallCap 600 Index, comprising stocks of smaller U.S. companies, approximating the proportions that they are represented in the Index. The fund opens for investment today, but will have a subscription period until March 24, 1999, with all purchases invested in money market instruments until then. The fund has a 1% front-end load with a 2% back-end load for the first year and 1% thereafter until the fifth year. The expense ratio will be 20 basis points, with a institutional share class offered at 10. Vanguard is also introducing similar institutional shares for two other tax-managed funds, the Tax-Managed Growth and Income Fund and the Tax-Managed Capital Appreciation Fund. Printed from: MFWire.com/story.asp?s=24938 Copyright 1999, InvestmentWires, Inc. All Rights Reserved |