Vanguard closes two equity funds

“Throughout our history, Vanguard has acted preemptively to restrict cash flows and maintain fund assets at reasonable levels to protect shareholders,” said Vanguard Chairman and CEO John J. Brennan. “Given the funds’ current asset levels and strong performance, we believe that taking these steps to limit future asset growth is reasonable, prudent, and in the best interests of shareholders.”

This was announced about a week ago, but I thought I’d mention it. Remember the last time they closed the Precious Metals Fund? I try to note when Vanguard closes various funds because I think it’s often a good indicator of market sentiment.