Vanguard to Close Wellington Fund to Some Investors

Vanguard Group Inc., the world’s biggest mutual-fund company, said two funds including the $68 billion Vanguard Wellington Fund won’t open new accounts for financial advisers and institutional investors.

The Wellington fund and the $39 billion Intermediate-Term Tax-Exempt Fund will remain open to new retail clients and to deposits from all existing clients, the Valley Forge, Pennsylvania-based company said today in a statement. The Wellington fund is Vanguard’s biggest actively run fund.

To contact the reporter on this story: Christopher Condon in Boston at

To contact the editor responsible for this story: Christian Baumgaertel at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.