[Vanguard Prime Money Market changes, gets new name. Treasury Money Market reopened]

Discuss all general (i.e. non-personal) investing questions and issues, investing news, and theory.
nasrullah
Posts: 226
Joined: Fri Feb 10, 2017 11:40 am

Re: Vanguard Taxable Money Market Funds

Post by nasrullah »

Thanks I'll read that now. Don't know why I missed that in search.
Doing nothing is doing something.
nasrullah
Posts: 226
Joined: Fri Feb 10, 2017 11:40 am

Re: [Vanguard Prime Money Market changes, gets new name. Treasury Money Market reopened]

Post by nasrullah »

What I'm missing in this thread is why one fund over another?

Vanguard Federal Money Market Fund (VMFXX)
Vanguard Prime Money Market Fund (VMMXX) (soon to be Vanguard Cash Reserves Federal Money Market Fund)
Vanguard Treasury Money Market Fund (VUSXX)

My limited understanding is that these funds are basically ranked highest to lowest risk. But exactly how risky or difference in risk does that really mean?
Doing nothing is doing something.
nasrullah
Posts: 226
Joined: Fri Feb 10, 2017 11:40 am

Re: Vanguard Taxable Money Market Funds

Post by nasrullah »

LadyGeek if you stumble across this thread please feel free to delete.
Doing nothing is doing something.
retiringwhen
Posts: 2053
Joined: Sat Jul 08, 2017 10:09 am
Location: New Jersey, USA

Re: [Vanguard Prime Money Market changes, gets new name. Treasury Money Market reopened]

Post by retiringwhen »

nasrullah wrote: Tue Sep 01, 2020 11:24 am What I'm missing in this thread is why one fund over another?

Vanguard Federal Money Market Fund (VMFXX)
Vanguard Prime Money Market Fund (VMMXX) (soon to be Vanguard Cash Reserves Federal Money Market Fund)
Vanguard Treasury Money Market Fund (VUSXX)

My limited understanding is that these funds are basically ranked highest to lowest risk. But exactly how risky or difference in risk does that really mean?
I would rank them differently (most risky to least risky = VMMXX/VMRXX, VUSXX are VMFXX* equal, but we are in # of angels dancing on the head of a pin territory. Since all three invest in Gov't assets or instruments backed by Gov't instruments, there is almost no differences. But to try and compare (with a bit of supporting detail)

Duration risk (high to low) = VMRXX, with VUSXX and VMFXX equal.
- This is based on my reading that VMRXX is intended to allow a longer duration, but right now it actually has the shortest of all three funds!

Liquidity risk (high to low) = VMRXX, with VUSXX and VMFXX equal.
- VMFXX and VUSXX don't have SEC mandated gates, VMRXX does (for now)*.

Preservation of Capital Risk = they are equivalent since they are all back by the full faith and credit of the US Government at some level after the Prime transition to Cash Reserves.

My personal thoughts are, just use the VMFXX unless you have a lot of money that will be sitting in cash for a while, then put it in VUSXX. I seen no particular use case for the revised Prime/Cash Reserves fund (I had cash in Prime for probably 25 of the last 30 years).

My current position is to move any remaining money market fund assets into Ally No Penalty CDs and FDIC insured savings accounts.I still have some money in VUSXX until a near-term home project bill comes due that is there only for reasons of sloth.


*Edit - I updated as VUSXX doesn't have gates either, that changes the risk model for what it is worth.
User avatar
LadyGeek
Site Admin
Posts: 69986
Joined: Sat Dec 20, 2008 5:34 pm
Location: Philadelphia
Contact:

Re: Vanguard Taxable Money Market Funds

Post by LadyGeek »

nasrullah wrote: Tue Sep 01, 2020 11:25 am LadyGeek if you stumble across this thread please feel free to delete.
Instead of deleting, I merged your thread into the on-going discussion. Since you've now posted in this thread (after the move), it will show up under Your posts (Top-left corner --> Quick links).

Thanks to the member who reported the post. One of the reasons is "Duplicate threads".
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.
Northern Flicker
Posts: 7080
Joined: Fri Apr 10, 2015 12:29 am

Re: [Vanguard Prime Money Market changes, gets new name. Treasury Money Market reopened]

Post by Northern Flicker »

nasrullah wrote: Tue Sep 01, 2020 11:24 am What I'm missing in this thread is why one fund over another?

Vanguard Federal Money Market Fund (VMFXX)
Vanguard Prime Money Market Fund (VMMXX) (soon to be Vanguard Cash Reserves Federal Money Market Fund)
Vanguard Treasury Money Market Fund (VUSXX)

My limited understanding is that these funds are basically ranked highest to lowest risk. But exactly how risky or difference in risk does that really mean?
Federal Money Market should be lower risk than Prime or Cash Reserves.
Risk is not a guarantor of return.
User avatar
Kevin M
Posts: 11732
Joined: Mon Jun 29, 2009 3:24 pm
Contact:

Re: [Vanguard Prime Money Market changes, gets new name. Treasury Money Market reopened]

Post by Kevin M »

BolderBoy wrote: Tue Sep 01, 2020 10:45 am
Kevin M wrote: Sun Aug 30, 2020 3:50 pmThe six per month limit is correct--that is due to a federal regulation that applies to all savings accounts, so not unique to your CU.
This federal regulation was repealed in July I think. Now any limits are left up to the entities themselves.
Good point. Here's the key paragraph in https://www.federalregister.gov/documen ... stitutions
The interim final rule allows depository institutions immediately to suspend enforcement of the six transfer limit and to allow their customers to make an unlimited number of convenient transfers and withdrawals from their savings deposits. The interim final rule permits, but does not require, depository institutions to suspend enforcement of the six transfer limit. The interim final rule also does not require any changes to the deposit reporting practices of depository institutions. Additional information on the impact of the interim final rule is set forth in the next section.
The point remains that this is not unique to the CU under discussion, but was universal, and still may be quite common, with each bank or CU changing their policy as they see fit. I've still seen warnings about it at several of my banks and credit unions lately.

As an example of the transition, although Ally apparently is refunding the $10 fee for exceeding the limit, they still show a "Transactions Remaining" counter in the Account Details for a savings account, and if you hover over it, you see this:
Federal law permits limiting certain types of withdrawals and transfers from savings and money market accounts to a combined total of 6 per statement cycle. These limited transactions include things like Online and Mobile Banking transfers, transfers from your account to any of your accounts with us, or to a third party and, if checks and debit cards are allowed on the account, check and point-of-sale transactions.

There's a $10 excessive transaction fee for each transaction that exceeds this limit. However, we're temporarily refunding this fee to help those of you impacted by COVID-19.

Some transactions are unlimited. For example, you can make as many deposits as you like, and you can call us any time to request a check made out to you. With a Money Market Account, you can make unlimited ATM withdrawals.
So it seems that they are not yet committing to abandoning the limit permanently.

Kevin
Wiki ||.......|| Suggested format for Asking Portfolio Questions (edit original post)
You Know What I Mean
Posts: 115
Joined: Tue Mar 06, 2018 9:27 am

Re: [Vanguard Prime Money Market changes, gets new name. Treasury Money Market reopened]

Post by You Know What I Mean »

Can the new fund Vanguard Cash Reserves Federal Money Market Fund be used as an alternative redemption fund for checkwriting if the settlement fund (Federal Money Market Fund) balance is too low?
User avatar
Harry Livermore
Posts: 658
Joined: Thu Apr 04, 2019 5:32 am

Re: [Vanguard Prime Money Market changes, gets new name. Treasury Money Market reopened]

Post by Harry Livermore »

sycamore wrote: Mon Aug 31, 2020 5:09 am
pascalwager wrote: Mon Aug 31, 2020 2:07 am I did some experimenting and I now see that the external bank is indeed linked to each mutual fund in my taxable, Rollover IRA, and Roth IRA accounts.

For ETFs, I guess I would need to first sell to the Settlement Fund which is then linked to my bank, but I didn't confirm this.

In the past, using the old investing platform, I had always understood that money could only be moved from a Vanguard MMF to your bank, but even that may have been wrong.
As you guessed, for ETFs (or individual stocks) a sell order puts the proceeds in the settlement fund and once there you can transfer it to your bank.

With the old platform, you can use buy a mutual fund using money from an externally-linked bank. It can be for a money market fund or any mutual fund. And you can sell a mutual fund with proceeds going directly to the bank.
One of the main reasons I'm staying on the old platform until I have no choice... but that's another topic.
Cheers
sycamore
Posts: 1825
Joined: Tue May 08, 2018 12:06 pm

Re: [Vanguard Prime Money Market changes, gets new name. Treasury Money Market reopened]

Post by sycamore »

You Know What I Mean wrote: Tue Sep 01, 2020 8:38 pm Can the new fund Vanguard Cash Reserves Federal Money Market Fund be used as an alternative redemption fund for checkwriting if the settlement fund (Federal Money Market Fund) balance is too low?
Possibly. I went through the "Establish Checkwriting Service" online application and I could enter VMMXX and VMRXX as the alternative redemption fund. I didn't actually submit the application so who knows how Vanguard will handle such a request.
Northern Flicker
Posts: 7080
Joined: Fri Apr 10, 2015 12:29 am

Re: [Vanguard Prime Money Market changes, gets new name. Treasury Money Market reopened]

Post by Northern Flicker »

sycamore wrote: Wed Sep 02, 2020 8:02 am
You Know What I Mean wrote: Tue Sep 01, 2020 8:38 pm Can the new fund Vanguard Cash Reserves Federal Money Market Fund be used as an alternative redemption fund for checkwriting if the settlement fund (Federal Money Market Fund) balance is too low?
Possibly. I went through the "Establish Checkwriting Service" online application and I could enter VMMXX and VMRXX as the alternative redemption fund. I didn't actually submit the application so who knows how Vanguard will handle such a request.
I believe you can still have checkwriting capability on any Vanguard MMF in a mutual fund account (and minimum balance limits apply) but the Federal MMF has been the only MMF that can be used as a settlement fund for some time.
Risk is not a guarantor of return.
BBBob
Posts: 124
Joined: Tue Aug 11, 2015 12:25 pm

Re: Vanguard Makes Changes to its Money Market Funds - What's Best Now?

Post by BBBob »

sycamore wrote: Thu Aug 27, 2020 11:35 am ...

Accordingly, effective on or about September 29, 2020, the Fund will invest at least 99.5% of its total assets in government securities and the Fund’s name will change to Vanguard Cash Reserves Federal Money Market Fund. The Fund will continue to invest more than 25% of its assets in the financial services industry (i.e., issuers principally engaged in providing financial services to consumers and industry), which includes securities issued by government-sponsored enterprises, such as the Federal National Mortgage Association (“Fannie Mae”), the Federal Home Loan Mortgage Corporation (“Freddie Mac”), and the Federal Home Loan Banks. Currently, the Fund has no limit on its ability to invest in government securities, and will continue to increase such investments prior to changing its designation to a government money market fund.


In addition, in connection with the change in the Fund’s name, the Board also approved the implementation of a policy for the Fund to invest, under normal circumstances, at least 80% of its assets in securities issued by the U.S. government and its agencies and instrumentalities. T
I cannot understand these seemingly contradictory statements (underlined for your convenience), and the Vanguard customer rep said he can;t explain it either. My mental Boolean diagram fails me. Does anyone understand this?
retiringwhen
Posts: 2053
Joined: Sat Jul 08, 2017 10:09 am
Location: New Jersey, USA

Re: Vanguard Makes Changes to its Money Market Funds - What's Best Now?

Post by retiringwhen »

BBBob wrote: Wed Sep 02, 2020 2:34 pm
sycamore wrote: Thu Aug 27, 2020 11:35 am ...

Accordingly, effective on or about September 29, 2020, the Fund will invest at least 99.5% of its total assets in government securities and the Fund’s name will change to Vanguard Cash Reserves Federal Money Market Fund. The Fund will continue to invest more than 25% of its assets in the financial services industry (i.e., issuers principally engaged in providing financial services to consumers and industry), which includes securities issued by government-sponsored enterprises, such as the Federal National Mortgage Association (“Fannie Mae”), the Federal Home Loan Mortgage Corporation (“Freddie Mac”), and the Federal Home Loan Banks. Currently, the Fund has no limit on its ability to invest in government securities, and will continue to increase such investments prior to changing its designation to a government money market fund.


In addition, in connection with the change in the Fund’s name, the Board also approved the implementation of a policy for the Fund to invest, under normal circumstances, at least 80% of its assets in securities issued by the U.S. government and its agencies and instrumentalities. T
I cannot understand these seemingly contradictory statements (underlined for your convenience), and the Vanguard customer rep said he can;t explain it either. My mental Boolean diagram fails me. Does anyone understand this?
Your answer is which includes securities issued by government-sponsored enterprises, such as the Federal National Mortgage Association (“Fannie Mae”), the Federal Home Loan Mortgage Corporation (“Freddie Mac”), and the Federal Home Loan Banks.

Fannie and Freddie are both Financial Services Industry AND they are backed by the Federal Government and can be considered a government-sponsored enterprise.

IOW, the qualifying clauses at the end of each sentence tie them together.
BBBob
Posts: 124
Joined: Tue Aug 11, 2015 12:25 pm

Re: [Vanguard Prime Money Market changes, gets new name. Treasury Money Market reopened]

Post by BBBob »

ahhh...thank you, retiringwhen.
User avatar
Kevin M
Posts: 11732
Joined: Mon Jun 29, 2009 3:24 pm
Contact:

Re: [Vanguard Prime Money Market changes, gets new name. Treasury Money Market reopened]

Post by Kevin M »

Harry Livermore wrote: Wed Sep 02, 2020 6:06 am
sycamore wrote: Mon Aug 31, 2020 5:09 am
pascalwager wrote: Mon Aug 31, 2020 2:07 am <snip>
<snip>
With the old platform, you can use buy a mutual fund using money from an externally-linked bank. It can be for a money market fund or any mutual fund. And you can sell a mutual fund with proceeds going directly to the bank.
One of the main reasons I'm staying on the old platform until I have no choice... but that's another topic.
Not a good reason, since you also can transfer directly to and from any mutual fund in a Vanguard brokerage account (new platform, by definition) from or to an externally linked bank account. There is no difference in this functionality between old and new platforms.

Kevin
Wiki ||.......|| Suggested format for Asking Portfolio Questions (edit original post)
retiringwhen
Posts: 2053
Joined: Sat Jul 08, 2017 10:09 am
Location: New Jersey, USA

Re: [Vanguard Prime Money Market changes, gets new name. Treasury Money Market reopened]

Post by retiringwhen »

Kevin M wrote: Wed Sep 02, 2020 3:31 pm
Harry Livermore wrote: Wed Sep 02, 2020 6:06 am
sycamore wrote: Mon Aug 31, 2020 5:09 am
pascalwager wrote: Mon Aug 31, 2020 2:07 am <snip>
<snip>
With the old platform, you can use buy a mutual fund using money from an externally-linked bank. It can be for a money market fund or any mutual fund. And you can sell a mutual fund with proceeds going directly to the bank.
One of the main reasons I'm staying on the old platform until I have no choice... but that's another topic.
Not a good reason, since you also can transfer directly to and from any mutual fund in a Vanguard brokerage account (new platform, by definition) from or to an externally linked bank account. There is no difference in this functionality between old and new platforms.

Kevin
Yup, just did it last Thursday Sold VIGAX and sent the proceeds to Ally in a taxable brokerage account.

BTW, I also (until recently) had semi-weekly purchases of a mutual fund scheduled to come from one of my personal bank accounts (a credit union).

As long as you are doing things within mutual funds, the buy and sell functionality is the same. ETFs work differently so don't confuse them. Dividend reinvestment can only go back into itself or to the settlement account, so small corner case where Brokerage is more limited.
User avatar
Harry Livermore
Posts: 658
Joined: Thu Apr 04, 2019 5:32 am

Re: [Vanguard Prime Money Market changes, gets new name. Treasury Money Market reopened]

Post by Harry Livermore »

Kevin M wrote: Wed Sep 02, 2020 3:31 pm
Harry Livermore wrote: Wed Sep 02, 2020 6:06 am
sycamore wrote: Mon Aug 31, 2020 5:09 am
pascalwager wrote: Mon Aug 31, 2020 2:07 am <snip>
<snip>
With the old platform, you can use buy a mutual fund using money from an externally-linked bank. It can be for a money market fund or any mutual fund. And you can sell a mutual fund with proceeds going directly to the bank.
One of the main reasons I'm staying on the old platform until I have no choice... but that's another topic.
Not a good reason, since you also can transfer directly to and from any mutual fund in a Vanguard brokerage account (new platform, by definition) from or to an externally linked bank account. There is no difference in this functionality between old and new platforms.

Kevin
True? Ah, I have been misinformed. Thanks for clearing that up.
Cheers
User avatar
heartwood
Posts: 1771
Joined: Sat Nov 23, 2013 1:40 pm

Re: [Vanguard Prime Money Market changes, gets new name. Treasury Money Market reopened]

Post by heartwood »

Northern Flicker wrote: Wed Sep 02, 2020 12:13 pm
sycamore wrote: Wed Sep 02, 2020 8:02 am
You Know What I Mean wrote: Tue Sep 01, 2020 8:38 pm Can the new fund Vanguard Cash Reserves Federal Money Market Fund be used as an alternative redemption fund for checkwriting if the settlement fund (Federal Money Market Fund) balance is too low?
Possibly. I went through the "Establish Checkwriting Service" online application and I could enter VMMXX and VMRXX as the alternative redemption fund. I didn't actually submit the application so who knows how Vanguard will handle such a request.
I believe you can still have checkwriting capability on any Vanguard MMF in a mutual fund account (and minimum balance limits apply) but the Federal MMF has been the only MMF that can be used as a settlement fund for some time.
Apparently not "any" MM fund. I asked Vanguard today about setting the Prime MM Admiral fund as a alternative redemption fund for my brokerage account, still using the Federal MM settlement account as the check writing account. I was told that the Prime Admiral can not be an alternate redemption fund.
Northern Flicker
Posts: 7080
Joined: Fri Apr 10, 2015 12:29 am

Re: Vanguard Makes Changes to its Money Market Funds - What's Best Now?

Post by Northern Flicker »

BBBob wrote: Wed Sep 02, 2020 2:34 pm
sycamore wrote: Thu Aug 27, 2020 11:35 am ...

Accordingly, effective on or about September 29, 2020, the Fund will invest at least 99.5% of its total assets in government securities and the Fund’s name will change to Vanguard Cash Reserves Federal Money Market Fund. The Fund will continue to invest more than 25% of its assets in the financial services industry (i.e., issuers principally engaged in providing financial services to consumers and industry), which includes securities issued by government-sponsored enterprises, such as the Federal National Mortgage Association (“Fannie Mae”), the Federal Home Loan Mortgage Corporation (“Freddie Mac”), and the Federal Home Loan Banks. Currently, the Fund has no limit on its ability to invest in government securities, and will continue to increase such investments prior to changing its designation to a government money market fund.


In addition, in connection with the change in the Fund’s name, the Board also approved the implementation of a policy for the Fund to invest, under normal circumstances, at least 80% of its assets in securities issued by the U.S. government and its agencies and instrumentalities. T
I cannot understand these seemingly contradictory statements (underlined for your convenience), and the Vanguard customer rep said he can;t explain it either. My mental Boolean diagram fails me. Does anyone understand this?
Fannie Maes, Freddie Macs, and Ginny Maes are securities issued by government-sponsored agencies that also are service providers in the financial industry. Perhaps you meant Venn diagram-- the set of government agencies and the set of financial industry service providers are not disjoint sets-- there is in fact substantial overlap.
Last edited by Northern Flicker on Thu Sep 03, 2020 3:47 pm, edited 2 times in total.
Risk is not a guarantor of return.
BBBob
Posts: 124
Joined: Tue Aug 11, 2015 12:25 pm

Re: [Vanguard Prime Money Market changes, gets new name. Treasury Money Market reopened]

Post by BBBob »

Thanks. And I did mean "Venn". :beer
tibbitts
Posts: 12883
Joined: Tue Feb 27, 2007 6:50 pm

Re: [Vanguard Prime Money Market changes, gets new name. Treasury Money Market reopened]

Post by tibbitts »

I have two Prime MM accounts (one taxable, one deferred) with a combined balance of about $10 so I'll just wait and see what happens.
cowbman
Posts: 264
Joined: Sat Jan 14, 2017 2:10 pm

Re: Money Market with check writing...help

Post by cowbman »

discgolfplayer wrote: Thu Aug 27, 2020 11:56 am [Merged into the existing discussion -- mod oldcomputerguy]

The Prime Money Market is changing. Vanguard states check writing will not be available when it's converted. I only want a money market fund for it's check writing and Prime has served me well over many years. Could someone direct me to a money market fund with that privilege? Also, when I change MM funds, will that create a tax event? The 3 funds I hold, I have had for 20 years. All are taxable. Thanks.
A Fidelity CMA has this
User avatar
Electron
Posts: 2148
Joined: Sat Mar 10, 2007 8:46 pm

Re: [Vanguard Prime Money Market changes, gets new name. Treasury Money Market reopened]

Post by Electron »

I just checked the Vanguard profiles for Prime Money Market and Prime Money Market Admiral and noticed something quite interesting.

Cash flows starting on August 28 are very large. Note the $2.9B converted on the first day. I believe these cash flows are just accounting since a single portfolio handles both funds.

https://investor.vanguard.com/mutual-fu ... olio/vmrxx
https://investor.vanguard.com/mutual-fu ... olio/vmmxx

I'm happy to move assets from a retail money market fund to a Government money market fund which does not have liquidity fees or redemption gates.

It also looks like the yield should be slightly higher than Federal Money Market based on no checkwriting and slightly longer average maturity.

In terms of the state income tax, we may have to wait a long time to find out the percentage of income derived from U.S. Government obligations.
Electron
Tutone
Posts: 8
Joined: Mon May 04, 2020 12:11 am

Re: [Vanguard Prime Money Market changes, gets new name. Treasury Money Market reopened]

Post by Tutone »

Will this change have any effect on direct deposits? Will current scheduled direct deposits, such as Social Security, into the Prime Money Market Fund continue into the Vanguard Cash Reserves Federal Money Market Fund once the change occurs? Also, dividends from other funds are automatically paid into the Prime fund. Will these dividends continue into the new fund? I have enquired via message to Vanguard, but have not received an answer yet. Any information is appreciated. I have not always found Vanguard's responses to my messages to be as concise as I would like. I am an expat and primarily use the Prime fund as a conduit for transfering money to my foreign bank account.
User avatar
Electron
Posts: 2148
Joined: Sat Mar 10, 2007 8:46 pm

Re: [Vanguard Prime Money Market changes, gets new name. Treasury Money Market reopened]

Post by Electron »

Tutone wrote: Mon Sep 07, 2020 8:01 pmWill this change have any effect on direct deposits?
Prime Money Market is Vanguard Fund 30 while Prime Money Market Admiral is Vanguard Fund 66.

Vanguard fund and account numbers are seen in the MICR numbers printed on the bottom of Vanguard checks and I assume they would also be included in ACH and Wire instructions. Vanguard has not stated whether Prime Money Market Admiral remains Fund 66 after the change to the new name but I am expecting no change.

I hope Vanguard does provide answers to your questions. On the dividend investments, Vanguard usually notifies you when changes to any of your holdings impacts any automatic services that may be set up.
Electron
User avatar
Kevin M
Posts: 11732
Joined: Mon Jun 29, 2009 3:24 pm
Contact:

Re: [Vanguard Prime Money Market changes, gets new name. Treasury Money Market reopened]

Post by Kevin M »

Tutone wrote: Mon Sep 07, 2020 8:01 pm Also, dividends from other funds are automatically paid into the Prime fund. Will these dividends continue into the new fund?
This is easy enough to check yourself. My Accounts -> Account maintenance -> Holding level dividend and capital gains elections. Look at the account of interest, and if not what's desired, "Change elections".

You must have an old-platform mutual fund account, as with a new-platform brokerage account you cannot reinvest dividends from one fund into another, other than into the Federal Money Market settlement fund.

Kevin
Wiki ||.......|| Suggested format for Asking Portfolio Questions (edit original post)
User avatar
Electron
Posts: 2148
Joined: Sat Mar 10, 2007 8:46 pm

Re: [Vanguard Prime Money Market changes, gets new name. Treasury Money Market reopened]

Post by Electron »

I noticed that the yield on Prime Money Market fund Admiral shares has now fallen below the yield on Federal Money Market. That is likely the result of Government securities now replacing other types of securities previously held by the fund. In addition, the two year floating rate Treasury notes held by Federal Money Market may be helping to increase yield.

If anyone is curious about the MICR numbers at the bottom of Vanguard Money Market fund checks, there are three sets of numbers.

The first set includes the Vanguard mutual fund number (30 for Prime Money Market) and the sequential Vanguard check number.
The second set is the nine digit bank routing number. The third set includes your Vanguard fund account number.
Electron
van_sun_38
Posts: 80
Joined: Tue Apr 07, 2020 12:56 pm

Vanguard money market fund closed to new investors?

Post by van_sun_38 »

[Merged into existing discussion -- moderator oldcomputerguy]

While exchanging a portion of the Vanguard Money market fund (VMMXX), this alert popped up: "This fund is closed to new investors. If you sell a portion of your balance, the amount you can reinvest in this fund may be limited. Please see the fund's prospectus for more details." Do you know what that means?
User avatar
galawdawg
Posts: 2059
Joined: Thu Dec 14, 2017 12:59 pm
Location: Georgia

Re: Vanguard money market fund closed to new investors?

Post by galawdawg »

van_sun_38 wrote: Thu Oct 01, 2020 4:24 pm While exchanging a portion of the Vanguard Money market fund (VMMXX), this alert popped up: "This fund is closed to new investors. If you sell a portion of your balance, the amount you can reinvest in this fund may be limited. Please see the fund's prospectus for more details." Do you know what that means?
That has been discussed at length here over the past month or so: viewtopic.php?f=10&t=323926

Here is Vanguard's announcement: https://investornews.vanguard/changes-t ... nd-lineup/
Post Reply