Vanguard Closes Precious-Metals Fund
Fund family concerned about hot money flooding into volatile sector fund.
In the midst of the biggest rally for precious-metals funds in nearly a decade, the Vanguard Group has shut its Vanguard Precious Metals Fund (VGPMX) to new and existing investors, including those who own the fund through employer-sponsored retirement plans.
Vanguard took the severe steps to curb hot money pouring into the offering.
Dan Culloton has a position in the following securities mentioned above: VGPMX. Find out about Morningstar’s editorial policies.