Vanguard Reopens Primecap Funds

Vanguard has reopened its Primecap Fund and Primecap Core Fund, both actively managed large-cap stock funds that are now available to all investors without restriction, the company announced Tuesday.

Both funds, which have been closed since 2004 and 2009, respectively, are available for new accounts and additional purchases.

Vanguard said it monitors its active funds on an ongoing basis for investment capacity and to ensure cash flows into a fund don’t affect its ability to meet investment objectives. The fund giant has determined that the Primecap and Primecap Core funds have sufficient investment capacity to reopen.

Before the reopening, existing investors were limited to a maximum $25,000 in additional purchases annually.

Both funds are U.S. large-cap equity funds with a long-term perspective, low portfolio turnover and investment strategies anchored in bottom-up, fundamental research, Vanguard said. Primecap Fund focuses primarily on growth-oriented stocks, while Primecap Core Fund invests in stocks with both value and growth characteristics.