After months of anticipation, Pennsylvania-based mutual fund behemoth Vanguard last week launched its newest offering, Vanguard Primecap Core
The newest Primecap sibling is a noteworthy arrival in mutual fund land. Primecap and Capital Opportunity have notched impressive long-term gains, besting the S&P by an annualized five and 10.6 percentage points, respectively, over the past five years. Both funds have been closed to new investors since March of this year, however, so with Core's unveiling, interested parties now have a chance to join the Primecap party. Ho ho ho!
Vanguard states that, like its other two Primecap-advised funds, the Core fund will follow a flexible investing strategy, with the latitude to buy large-, mid-, and small-cap stocks. But unlike those funds, which devote most of their assets to growth stocks -- including tech and biotech picks that have turned in huge gains this year, such as Adobe
Shareholders will have to plunk down a somewhat discouraging $10,000 to meet the fund's minimum investment requirement, though those who can do so will enjoy an appealing 0.75% expense ratio. While the roving nature of go-anywhere funds doesn't make them the most dependable portfolio anchors, Core's credentials make it well worth a look as a complement to a dyed-in-the-wool large cap or S&P index fund.
Fool contributor Josie Raney does not own shares of any funds or stocks mentioned above.
