Vanguard Hikes Minimum Initial Investment for International Explorer Fund

Jan. 15, 2004 — Vanguard Group today raised the minimum initial investment for the $644 million Vanguard International Explorer (VINEX) to $25,000 from $10,000 in an effort to keep the fund from getting flooded with cash.

International Explorer’s assets have increased “substantially” since Vanguard acquired it from Schroder Investment Management North America in 2002, Vanguard said. Vanguard attributed the growth to the fund’s strong returns and “significant” cash inflows.

The fund gained 57.4% last year, while the average international fund was up 36.9%.