Vanguard to Shut Large-Cap Quantitative Stock Mutual Funds
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Vanguard Group Inc., the world’s largest mutual fund manager, said it will close two funds that use mathematical models to pick stocks.
The boards of Structured Large-Cap Growth Fund and Structured Large-Cap Value Fund voted on Feb. 25 to dissolve them on or about May 31, the Valley Forge, Pennsylvania-based company said today in a filing with the U.S. Securities and Exchange Commission. The funds hold a combined $12 million, Rebecca Katz, a Vanguard spokeswoman, said in an interview.