Liquidating a mutual fund

26-Oct-2020 13:32

Jeff De Maso, co-editor of The Independent Adviser for Vanguard Investors newsletter, shrugged off the liquidation as the cost of being a mutual fund behemoth.

"A billion-dollar fund would be a huge success at most firms, but with Vanguard's assets, it's just not worth the hassle anymore," he said.

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Here’s what to do if you face an ETF closure — and how to avoid one in the future.

The industry’s rapid growth resulted in some funds that proved to be too niche and failed to attract investors.

The trillion asset manager announced Thursday that it will liquidate the Vanguard Convertible Securities Fund (VCVSX).

The 2 million mutual fund "has not gained broad acceptance among targeted investors," a company spokeswoman said.

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Launched in 1986 and subadvised by Oaktree Capital Management, the strategy's heyday is over, and investors will be getting their money back in March.And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward — and free. Our partners cannot pay us to guarantee favorable reviews of their products or services. " At Nerd Wallet, we strive to help you make financial decisions with confidence. The past decade has seen an explosion in new exchange-traded funds.To do this, many or all of the products featured here are from our partners. Investors have flocked to ETFs because they trade like individual stocks, but offer the diversification benefits of mutual funds — all at a low cost."It's not a very large group of actively managed funds out there in this style," he said.

"Perhaps fewer investors are looking for a dedicated convertible slice." Ms.

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