Access to closed funds no longer a Flagship benefit?

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jason1500
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Access to closed funds no longer a Flagship benefit?

Post by jason1500 » Mon Aug 12, 2019 1:13 am

I noticed having access to closed funds once you hit flagship status ($1m+) is no longer listed. I checked to see if they may be moved the benefit to the $5m tier but nothing there either. Does anyone know if this is no longer a benefit or did they simply stop advertising it but if you ask they'll allow you to buy in?

Vanguard Fan 1367
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Re: Access to closed funds no longer a Flagship benefit?

Post by Vanguard Fan 1367 » Mon Aug 12, 2019 7:34 am

I looked forward to getting my Flagship status and then bought their "gold" fund which was closed to mere mortals at the time. That didn't work out too well for me. If you do get access to closed funds hopefully you will find something that works as well as Vanguard's Total Stock Market.

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House Blend
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Re: Access to closed funds no longer a Flagship benefit?

Post by House Blend » Mon Aug 12, 2019 8:20 am

jason1500 wrote:
Mon Aug 12, 2019 1:13 am
Does anyone know if this is no longer a benefit [...]?
Seems unlikely, but not impossible.

It appears that VG currently has 3 funds that are closed to new investors. I looked at VPMAX (Primecap Admiral).

The most recent prospectus has a supplement dated Feb. 21, 2019.
Vanguard PRIMECAP Fund is closed to new accounts for investors not enrolled in Vanguard Flagship Services ® or Vanguard Personal Advisor Services ® . Clients of these services may open new Fund accounts, investing up to $25,000 per Fund account per year as described in this supplement, in individual, joint, and/or personal trust registrations. There is no specific time frame for when the Fund might reopen for new account registrations by other Vanguard clients, or increase investment limitations.
Perhaps what triggered this supplement is that you can now get into this fund if you sign up for PAS?
(I suppose you would also have to convince your advisor that your portfolio "needs" Primecap.)

If they have closed off Primecap to Flagshippers, expect another supplement to the prospectus to be issued shortly.

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Cheez-It Guy
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Re: Access to closed funds no longer a Flagship benefit?

Post by Cheez-It Guy » Mon Aug 12, 2019 8:07 pm

I don't currently own any of the closed funds in any of my accounts, though I have considered adding some.

As a test, I went through all of the steps of a purchase of a closed fund up to the final submission today with no issues. Didn't hit any apparent walls or error messages, for what it's worth.

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