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Article: Vanguard Announces Changes to Three Money Market Funds.
- Article from:
- Business Wire
- Article date:
- June 2, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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VALLEY FORGE, Pa. -- Vanguard has announced plans to merge the $6.7 billion Vanguard Treasury Money Market Fund (VMPXX) into the lower-cost $21.8 billion Vanguard Admiral[TM] Treasury Money Market Fund (VUSXX). The merger is planned for early August.
In addition, Vanguard has closed the Vanguard Federal Money Market Fund to all new accounts and to additional purchases from current institutional accounts. A $10,000 daily investment limit has been placed on current retail accounts.
"Taking these preventative measures will protect fund shareholders and will help ensure that the yields of the funds remain competitive," said Bill McNabb, Vanguard CEO. "It is ...