Well, this is a problem most fund firms would love to have. Vanguard is closing its High-Yield Corporate Fund to most new accounts, effectively immediately, citing a need to curtail strong cash inflows. The fund, which currently holds $16.9 billion in net assets, has experienced cash flow totaling $2 billion over the past six months.

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access