Vanguard Group, a Valley Forge, Pa., fund company, has announced the introduction of three managed payout funds.
The Vanguard Managed Payout Funds are designed for retiring and retired investors to help maintain savings and a reliable source of income throughout retirement, the company said on Monday.
A Growth Focus Fund among the three seeks to make monthly cash distributions while providing inflation protection and capital appreciation. A Growth and Distribution Fund seeks to make monthly cash distributions, protect against inflation, and preserve capital. A Distribution Focus Fund targets monthly cash distributions and capital preservation.
The subscription period began Monday and runs through May 4. The minimum initial investment is $25,000. Vanguard had $1.25 trillion in fund assets at March 31.
