Vanguard Group Inc. said it had reopened its Vanguard Explorer Fund and its Vanguard Health Care Fund to new accounts.
The Valley Forge, Pa., company also said last week that it has removed the $25,000 annual investment limit for the Explorer Fund. The small-cap growth fund has $10.1 billion of assets. Vanguard closed it to new investors and limited additional purchases in February 2006.
The $23.1 billion Vanguard Health Care Fund, which focuses on pharmaceutical, biotechnology, and other health-care stocks, was closed in March 2005.
The minimum initial investments are $3,000 for the Explorer Fund and $25,000 for the Health Care Fund.
Four Vanguard funds remain closed to new investors: the Vanguard Primecap Fund, the Vanguard Capital Opportunity Fund, the Vanguard Precious Metals and Mining Fund, and the Vanguard International Explorer Fund.
Vanguard has $1.25 trillion of U.S. mutual fund assets, including more than $360 billion in employer-sponsored retirement plans. It has more than 150 funds for U.S. investors and more than 50 additional funds in foreign markets.