Vanguard Ups the Ante for Health-Care Fund
New investors will need $25,000 to get in from now on.
Vanguard has upped the minimum initial purchase for its health-care fund to ease the flow of new cash into the industry's largest sector vehicle.
The Valley Forge, Penn.-based fund family on Monday said the offering's board of trustees has decided to raise the minimum initial investment for Vanguard Health Care (VGHCX) from $10,000 to $25,000 for all new accounts, to rein in asset growth. The new minimum won't affect existing accounts, but it takes effect virtually immediately. The higher minimum applies to taxable accounts as well as individual retirement accounts and custodial accounts for minors, which typically require lower minimums.
Dan Culloton has a position in the following securities mentioned above: VGHCX. Find out about Morningstar’s editorial policies.