Dec. 4, 2003 — Vanguard Group closed Vanguard Global Equity (VHGEX) to new investors today and will reopen Vanguard High Yield Corporate/Inv (VWEHX) Friday.
A Vanguard spokeswoman said London-based Marathon Asset Management Ltd., which runs Vanguard Global Equity, asked that it be closed because Marathon did not want to stretch its resources thin by taking on more clients. Marathon has stopped offering its own global stock fund to new investors, Vanguard said.
The $745 million fund’s asset size and cash inflows are not hindering Marathon’s ability to manage the portfolio, Vanguard said, adding that it has no timetable for reopening the fund.