Vanguard Group has filed a registration statement with the Securities and Exchange Commission for an actively managed equity fund.
Vanguard Primecap Core Fund is to be managed by Primecap Management Co., which has advised the Vanguard Primecap Fund since its launching in 1984, the mutual fund giant said on Friday. Primecap Management has advised the Vanguard Capital Opportunity Fund since 1998.
The new fund, which is to invest in stocks across the market spectrum, is the first actively managed portfolio started by Vanguard since June 2002. The fund is to require a minimum initial investment of $10,000 for regular accounts, IRAs, and custodial accounts for minors.
Primecap Management in Pasadena, Calif., is a privately managed investment advisory firm founded in 1983; it has corporate, endowment, and foundation clients. Vanguard, the nation's second-largest mutual fund company, with $750 billion of assets under management, has its headquarters in Malvern, Pa.
