Dec. 9, 2004 — Vanguard Group on Thursday debuted another fund managed By Primecap Management Co., which runs two of Vanguard’s top performing funds.
The new Primecap Core Fund invests in growth stocks and undervalued shares and buys companies of any size, although its “emphasis” will be on “larger-cap stocks,” Vanguard said.
The fund is overseen by the same team that manages Vanguard PRIMECAP (VPMCX) and Vanguard Capital Opportunity/Inv (VHCOX). Those funds, which have topped their peers in recent years, closed to new investors in March.
The new fund does not carry a sales charge or a marketing and distribution (12b-1) fee. To discourage short-term trading, it carries a 1% redemption charge on shares held less than a year. The fund’s expense ratio is 0.75%, Vanguard said.
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