Vanguard latest to close money fund to new investors [Reuters]
Vanguard Short-Term Treasury ETF (VGSH)
US:NASDAQ Investor Relations:
advisors.vanguard.com/web/cf/fas-investmentproducts/3142/overview
Company Research
Source: Reuters
Vanguard latest to close money fund to new investors BOSTON, April 16 (Reuters) - Vanguard Group said on Thursday it closed its $39.5 billion Treasury Money Market Fund to new investors, becoming the latest big asset manager looking to protect the returns of existing clients. Restricting the flow of new money helps reduce the amount of new securities paying lower yields that Vanguard will need to purchase, slowing the rate of dilution to returns for current shareholders. “Vanguard is taking this prudent step to temper cash flows and will continue to monitor the Fund and employ additional measures if needed,” the company said in a statement. New money market investors would still have access to other funds in its $414 billion lineup, Vanguard said. Other fund companies have taken similar steps including Fidelity Investments on March 31. U.S. Treasury yields have fallen precipitously since the start of 2020 as a rolling economic collapse stemming from the COVID-19 pandemic has pushed in
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