The Vanguard Group will allow new investors to put money into its Strategic Equity Fund, after limiting the number of new assets months ago, according to Investment News.
The $7 billion Strategic Equity Fund is a quantitative portfolio ran by a computer that makes nearly all the decisions on buying and selling stocks. It also raised the minimum investment to $10,000.
“The measures we put in place to moderate cash flow and protect investors have been successful,” says John J. Brennan, Vanguard chief executive.
Six of Vanguard’s funds remain closed to new accounts, including: the Explorer Fund, the Precious Metals and Mining Fund, the Health Care Fund, the International Explorer Fund, the PRIMECAP Fund, and the Capital Opportunity Fund.
The group manages 170 funds with nearly $1.07 trillion in U.S assets.