Press Release 10/1/19--Vanguard Adds To Its Active Lineup With Launch Of International Core Stock Fund

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Nate79
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Re: Press Release 10/1/19--Vanguard Adds To Its Active Lineup With Launch Of International Core Stock Fund

Post by Nate79 » Thu Oct 03, 2019 10:25 pm

Vanguard continues it's long tradition of very strong support for active funds. Unfortunate that some people misunderstand Vanguard (and Bogle) as a purely Index fund company.

khh
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Re: Press Release 10/1/19--Vanguard Adds To Its Active Lineup With Launch Of International Core Stock Fund

Post by khh » Fri Oct 04, 2019 4:13 am

Maybe VG will adopt a new slogan: "Index good, active better."

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Re: Press Release 10/1/19--Vanguard Adds To Its Active Lineup With Launch Of International Core Stock Fund

Post by schismal » Fri Oct 04, 2019 5:24 am

Nate79 wrote:
Thu Oct 03, 2019 10:25 pm
Vanguard continues it's long tradition of very strong support for active funds. Unfortunate that some people misunderstand Vanguard (and Bogle) as a purely Index fund company.
The Boglehead obsession with simplicity often oversimplifies the man himself.

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fortyofforty
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Re: Press Release 10/1/19--Vanguard Adds To Its Active Lineup With Launch Of International Core Stock Fund

Post by fortyofforty » Fri Oct 04, 2019 6:42 am

schismal wrote:
Fri Oct 04, 2019 5:24 am
Nate79 wrote:
Thu Oct 03, 2019 10:25 pm
Vanguard continues it's long tradition of very strong support for active funds. Unfortunate that some people misunderstand Vanguard (and Bogle) as a purely Index fund company.
The Boglehead obsession with simplicity often oversimplifies the man himself.
Unfortunate that some Bogleheads misunderstand the mathematics and logic of indexing. At least Vanguard's active funds have low costs, so investors probably won't lose too much if they gamble on outperformance. Vanguard makes more on active funds, so it's no mystery why it introduces and promotes active management.
"In a time of universal deceit, telling the truth becomes a revolutionary act." - George Orwell | Diligentia. Vis. Celeritas. - Jeff Cooper | Original Vanguard Diehard

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Re: Press Release 10/1/19--Vanguard Adds To Its Active Lineup With Launch Of International Core Stock Fund

Post by lostdog » Fri Oct 04, 2019 9:30 am

abuss368 wrote:
Thu Oct 03, 2019 7:41 pm
MFInvestor wrote:
Fri Jul 19, 2019 9:48 am
[Title was "Vanguard Expands Active Roster With Proposed International Core Stock Fund"

The fund has been launched, see below. --admin LadyGeek]


Press Release by Vanguard 7/18/2019
I didn't see anything on the forum regarding this

https://pressroom.vanguard.com/news/Pre ... 71819.html
VALLEY FORGE, PA (July 18, 2019)—Vanguard today filed a preliminary registration with the U.S. Securities and Exchange Commission for Vanguard International Core Stock Fund. The new actively managed fund will be managed by Wellington Management Company LLP (Wellington Management) and is expected to be available to investors in the fourth quarter of 2019.

Vanguard, one of the largest providers of actively managed funds in the asset management industry, has been expanding its actively managed roster over the past two years, introducing a suite of factor ETFs, an ESG fund, a commodities fund, two global balanced funds, and two fixed income funds —Vanguard Global Credit Bond Fund and Vanguard Emerging Markets Bond Fund.

A low-cost, diversified entrant to the market

Vanguard International Core Stock Fund will offer broad equity exposure to both developed and emerging non-U.S. markets, blending growth and value styles and diversifying across a range of sectors. The fund will seek to provide long-term capital appreciation and hold approximately 60-100 stocks, with no individual positions representing greater than 5% of the portfolio. It is expected to have moderate overweight or underweight allocations to sectors and regions relative to the MSCI ACWI ex USA Index.
Thank you for sharing. It just continues to puzzle why the search for alpha and all the active funds that are being developed and marketed by Vanguard. Commodities, Core Bond, Core International. What is next?
Core Domestic. You'll have the option for a 3 fund active portfolio someday.
VT, BNDW and chill.

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Re: Press Release 10/1/19--Vanguard Adds To Its Active Lineup With Launch Of International Core Stock Fund

Post by abuss368 » Fri Oct 04, 2019 12:28 pm

lostdog wrote:
Fri Oct 04, 2019 9:30 am
abuss368 wrote:
Thu Oct 03, 2019 7:41 pm
MFInvestor wrote:
Fri Jul 19, 2019 9:48 am
[Title was "Vanguard Expands Active Roster With Proposed International Core Stock Fund"

The fund has been launched, see below. --admin LadyGeek]


Press Release by Vanguard 7/18/2019
I didn't see anything on the forum regarding this

https://pressroom.vanguard.com/news/Pre ... 71819.html
VALLEY FORGE, PA (July 18, 2019)—Vanguard today filed a preliminary registration with the U.S. Securities and Exchange Commission for Vanguard International Core Stock Fund. The new actively managed fund will be managed by Wellington Management Company LLP (Wellington Management) and is expected to be available to investors in the fourth quarter of 2019.

Vanguard, one of the largest providers of actively managed funds in the asset management industry, has been expanding its actively managed roster over the past two years, introducing a suite of factor ETFs, an ESG fund, a commodities fund, two global balanced funds, and two fixed income funds —Vanguard Global Credit Bond Fund and Vanguard Emerging Markets Bond Fund.

A low-cost, diversified entrant to the market

Vanguard International Core Stock Fund will offer broad equity exposure to both developed and emerging non-U.S. markets, blending growth and value styles and diversifying across a range of sectors. The fund will seek to provide long-term capital appreciation and hold approximately 60-100 stocks, with no individual positions representing greater than 5% of the portfolio. It is expected to have moderate overweight or underweight allocations to sectors and regions relative to the MSCI ACWI ex USA Index.
Thank you for sharing. It just continues to puzzle why the search for alpha and all the active funds that are being developed and marketed by Vanguard. Commodities, Core Bond, Core International. What is next?
Core Domestic. You'll have the option for a 3 fund active portfolio someday.
I suspect that may be correct.
John C. Bogle: "Simplicity is the master key to financial success."

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HanSolo
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Re: Press Release 10/1/19--Vanguard Adds To Its Active Lineup With Launch Of International Core Stock Fund

Post by HanSolo » Fri Oct 04, 2019 4:13 pm

Responding to some earlier posts...
Scooter57 wrote:
Tue Oct 01, 2019 10:52 am
What gets me is the emphasis here on "market beating returns." For a fund that has no track record. It's modified by the weasel-word "seeking" but that pitch is SO unBogle-ish.
OK, so I'm going to be a bit of a devil's advocate here (or some might say unBogle's advocate... although I don't think that's accurate).

First of all, the word "seeking" is actually the usual term used in fund prospectuses to indicate what a fund is trying to do (e.g., an index fund "seeks" to track a given index). Whether that's a good word to use in marketing-speak is another question.
lostdog wrote:
Fri Oct 04, 2019 9:30 am
Core Domestic.
Already exists. It's called Diversified Equity.
Socrates wrote:
Tue Oct 01, 2019 11:38 am
Wellington has a great track record. My understanding this is a fund of stocks and bonds.
Yes, Wellington Fund (and the company, Wellington Management) has a great track record. And, if I recall correctly, it was Bogle himself, back in the early days, who chose to offer the Wellington Fund via Vanguard. And yes, that fund holds stocks and bonds. But I don't think this new international fund has bonds.
bei22000 wrote:
Tue Oct 01, 2019 11:26 am
In additional to my 7 funds (core) portfolio (index-based), is it worth investing in some money in this type of active managed fund (small amount)?
Well now, that's the question, isn't it? I'd say that if you already have a good understanding of the Bogleheads Investment Philosophy (see the wiki), and understand what this fund does (as they say, don't invest in things you don't understand), then you should be well-equipped to decide for yourself.

While some believe that there's only the tried-and-true "right answer" (which is fine), I prefer to believe that, in combination with conventional wisdom, there's also some room for personal preference (as we see on this forum, many Bogleheads have "tilts" of various sorts, e.g., small-cap value).

I happen to agree with the following:
Nate79 wrote:
Thu Oct 03, 2019 10:25 pm
Vanguard continues it's long tradition of very strong support for active funds. Unfortunate that some people misunderstand Vanguard (and Bogle) as a purely Index fund company.
schismal wrote:
Fri Oct 04, 2019 5:24 am
The Boglehead obsession with simplicity often oversimplifies the man himself.
And I'm not so sure about the implications of the following:
fortyofforty wrote:
Fri Oct 04, 2019 6:42 am
Unfortunate that some Bogleheads misunderstand the mathematics and logic of indexing.
I understand the mathematics and logic of indexing. And, I use a combination of index funds and actively managed funds.

I agree with what Warren Buffett said, that low-cost index funds are probably the best investment for "most people." But some people do other things, and I think the essential point is to understand what you're buying and the accompanying risks. If someone understands exactly what they're doing (i.e., they understand the possible advantages and disadvantages), then I see nothing "wrong" about going farther afield from index funds.

To extend the argument, if someone knows how to analyze individual businesses and understands the potential upsides and downsides, then I see nothing wrong with buying individual stocks, or even buying whole companies (as Buffett does). To claim that this is always "wrong" is to say that nobody should ever buy an entire business. But individual, privately-held businesses are bought and sold all the time (sometimes to good effect, sometimes not).

Back to active funds... I remember reading a paper copy of "In The Vanguard" which was sent by mail in the 1990s. In an interview with Gus Sauter (one of the people who helped build Vanguard), they asked him, since Vanguard promotes index funds, why do they also offer actively-managed funds? Sauter responded, "We can still hope, can't we?" This response is so simplistic it's almost comical... but I think it's also the true answer.

The question, then, is whether that hope is misplaced. Yes, we can point to a majority of actively-managed funds underperforming the relevant indexes. On the other hand, if I look at the current tables of 5-year and 10-year returns, I see Wellington Fund beating Balanced Index, Wellesley Income beating LifeStrategy Conservative Growth (and even Moderate Growth), and Primecap (and Primecap Core) beating Total Stock. In addition, the combination of International Growth and International Value together beats Total International Stock. So maybe Gus was on to something.

I'm not saying everyone should pile into actively-managed funds. My guess is that most people probably shouldn't, as I agree (as Buffett posited) that index funds are probably the best choice for most people. But I see nothing "right" or "wrong" about people choosing (or not choosing) active funds, as long as they understand what they're doing (including a good understanding of the Bogleheads Investment Philosophy).

Just my opinion.

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fortyofforty
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Re: Press Release 10/1/19--Vanguard Adds To Its Active Lineup With Launch Of International Core Stock Fund

Post by fortyofforty » Fri Oct 04, 2019 4:53 pm

HanSolo wrote:
Fri Oct 04, 2019 4:13 pm
Responding to some earlier posts...
Scooter57 wrote:
Tue Oct 01, 2019 10:52 am
What gets me is the emphasis here on "market beating returns." For a fund that has no track record. It's modified by the weasel-word "seeking" but that pitch is SO unBogle-ish.
OK, so I'm going to be a bit of a devil's advocate here (or some might say unBogle's advocate... although I don't think that's accurate).

First of all, the word "seeking" is actually the usual term used in fund prospectuses to indicate what a fund is trying to do (e.g., an index fund "seeks" to track a given index). Whether that's a good word to use in marketing-speak is another question.
lostdog wrote:
Fri Oct 04, 2019 9:30 am
Core Domestic.
Already exists. It's called Diversified Equity.
Socrates wrote:
Tue Oct 01, 2019 11:38 am
Wellington has a great track record. My understanding this is a fund of stocks and bonds.
Yes, Wellington Fund (and the company, Wellington Management) has a great track record. And, if I recall correctly, it was Bogle himself, back in the early days, who chose to offer the Wellington Fund via Vanguard. And yes, that fund holds stocks and bonds. But I don't think this new international fund has bonds.
bei22000 wrote:
Tue Oct 01, 2019 11:26 am
In additional to my 7 funds (core) portfolio (index-based), is it worth investing in some money in this type of active managed fund (small amount)?
Well now, that's the question, isn't it? I'd say that if you already have a good understanding of the Bogleheads Investment Philosophy (see the wiki), and understand what this fund does (as they say, don't invest in things you don't understand), then you should be well-equipped to decide for yourself.

While some believe that there's only the tried-and-true "right answer" (which is fine), I prefer to believe that, in combination with conventional wisdom, there's also some room for personal preference (as we see on this forum, many Bogleheads have "tilts" of various sorts, e.g., small-cap value).

I happen to agree with the following:
Nate79 wrote:
Thu Oct 03, 2019 10:25 pm
Vanguard continues it's long tradition of very strong support for active funds. Unfortunate that some people misunderstand Vanguard (and Bogle) as a purely Index fund company.
schismal wrote:
Fri Oct 04, 2019 5:24 am
The Boglehead obsession with simplicity often oversimplifies the man himself.
And I'm not so sure about the implications of the following:
fortyofforty wrote:
Fri Oct 04, 2019 6:42 am
Unfortunate that some Bogleheads misunderstand the mathematics and logic of indexing.
I understand the mathematics and logic of indexing. And, I use a combination of index funds and actively managed funds.

I agree with what Warren Buffett said, that low-cost index funds are probably the best investment for "most people." But some people do other things, and I think the essential point is to understand what you're buying and the accompanying risks. If someone understands exactly what they're doing (i.e., they understand the possible advantages and disadvantages), then I see nothing "wrong" about going farther afield from index funds.

To extend the argument, if someone knows how to analyze individual businesses and understands the potential upsides and downsides, then I see nothing wrong with buying individual stocks, or even buying whole companies (as Buffett does). To claim that this is always "wrong" is to say that nobody should ever buy an entire business. But individual, privately-held businesses are bought and sold all the time (sometimes to good effect, sometimes not).

Back to active funds... I remember reading a paper copy of "In The Vanguard" which was sent by mail in the 1990s. In an interview with Gus Sauter (one of the people who helped build Vanguard), they asked him, since Vanguard promotes index funds, why do they also offer actively-managed funds? Sauter responded, "We can still hope, can't we?" This response is so simplistic it's almost comical... but I think it's also the true answer.

The question, then, is whether that hope is misplaced. Yes, we can point to a majority of actively-managed funds underperforming the relevant indexes. On the other hand, if I look at the current tables of 5-year and 10-year returns, I see Wellington Fund beating Balanced Index, Wellesley Income beating LifeStrategy Conservative Growth (and even Moderate Growth), Primecap (and Primecap Core) beating Total Stock, and Developed Markets beating Total International Stock. In addition, the combination of International Growth and International Value together also beats Total International Stock. So maybe Gus was on to something.

I'm not saying everyone should pile into actively-managed funds. My guess is that most people probably shouldn't, as I agree (as Buffett posited) that index funds are probably the best choice for most people. But I see nothing "right" or "wrong" about people choosing (or not choosing) active funds, as long as they understand what they're doing (including a good understanding of the Bogleheads Investment Philosophy).

Just my opinion.
I agree with much of what you wrote, and also use a combination of index and actively managed funds (with indexed representing an enormously higher percentage). But I have no illusions about an actively managed fund outperforming a passive fund. If it does, great. If not (and the risk of underperformance is high), then that's the risk I took. But Vanguard being Vanguard, is it responsible to lure potentially novice investors into an actively managed fund rather than an index fund? And, if not for the hope of outperformance, what is the justification?

Let's face it. Vanguard knows full well that--mathematics and logic being immutable--it is virtually impossible for large funds to outperform market tracking index funds with lower expense ratios and less cash drag. I am also reminded that Vanguard uses proprietary combinations of index products to gauge the performance of its actively managed funds, in order to determine financial incentives. There are people who are simply more comfortable with human hands on the tiller. Give the people what they want.
"In a time of universal deceit, telling the truth becomes a revolutionary act." - George Orwell | Diligentia. Vis. Celeritas. - Jeff Cooper | Original Vanguard Diehard

557880yvi
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Vang 1-15 Oct "Subscription" VZICX (Admiral) Int'l Core Stock Fund,

Post by 557880yvi » Tue Oct 08, 2019 7:34 am

[Merged into here - mod oldcomputerguy]

Good morning - logged into my Vanguard account this morning to an ad on the home page that said they are offering a "Subscription" period 1-15 Oct for 2 International Core Stock Funds to be managed by Wellington Management Company LLP:

VWICX - Investor shares $10.00/share .45% fee, $3,000.00 minimum investment

VZICX - Admiral shares $20.00/share .35% fee, $50,000.00 minimum investment (I would invest in Admiral shares)

Searched and have not found any comments here about this - just wondering about thoughts on this for the Int'l equity component of a retirement portfolio that is mostly IRA's now, but 8-10 year conversion to ROTH strategy.

Imagine there are much lower cost ETF's with similar profiles? My radar is saying don't be sucked into "only available for 2 weeks at this price" marketing, but don't recall Vanguard doing anything like this before (but have only had large amounts of assets with them in recent years).

Thank you!

AlohaJoe
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Re: Vang 1-15 Oct "Subscription" VZICX (Admiral) Int'l Core Stock Fund,

Post by AlohaJoe » Tue Oct 08, 2019 7:38 am

Previously on Bogleheads... viewtopic.php?t=291621

557880yvi
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Re: Press Release 10/1/19--Vanguard Adds To Its Active Lineup With Launch Of International Core Stock Fund

Post by 557880yvi » Tue Oct 08, 2019 8:02 am

thanks, searched by the ticker symbol and didn't get hits. this is a great thread!

dh
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Re: Press Release 10/1/19--Vanguard Adds To Its Active Lineup With Launch Of International Core Stock Fund

Post by dh » Tue Oct 08, 2019 8:20 am

Vanguard wants to appeal to all investors (it is all about AUM) by offering broad indexes for passive investors and low cost (compared to other companies) actively managed funds. I have been extremely pleased with Vanguard's index funds and some of the Wellington managed funds (Div Growth, Wellington, Wellesley). Still, I am not sure about putting money into a new international core fund with no track record and that I have no idea about the portfolio (large, mid, small cap? / developed, emerging?). Good luck to all!

dh
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Joined: Sun Mar 13, 2011 8:01 pm

Re: Vang 1-15 Oct "Subscription" VZICX (Admiral) Int'l Core Stock Fund,

Post by dh » Tue Oct 08, 2019 8:24 am

557880yvi wrote:
Tue Oct 08, 2019 7:34 am
[Merged into here - mod oldcomputerguy]
... My radar is saying don't be sucked into "only available for 2 weeks at this price" marketing, but don't recall Vanguard doing anything like this before (but have only had large amounts of assets with them in recent years).
Vanguard has done this (subscription) before. They had the same 2-week window for the Global versions of Wellington and Wellesley.

columbia
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Re: Vang 1-15 Oct "Subscription" VZICX (Admiral) Int'l Core Stock Fund,

Post by columbia » Tue Oct 08, 2019 8:38 am

dh wrote:
Tue Oct 08, 2019 8:24 am
557880yvi wrote:
Tue Oct 08, 2019 7:34 am
[Merged into here - mod oldcomputerguy]
... My radar is saying don't be sucked into "only available for 2 weeks at this price" marketing, but don't recall Vanguard doing anything like this before (but have only had large amounts of assets with them in recent years).
Vanguard has done this (subscription) before. They had the same 2-week window for the Global versions of Wellington and Wellesley.
They also did it earlier this year with the Global ESG fund.

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fortyofforty
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Re: Press Release 10/1/19--Vanguard Adds To Its Active Lineup With Launch Of International Core Stock Fund

Post by fortyofforty » Tue Oct 08, 2019 7:55 pm

I've reviewed the prospectus and determined it's not for me. The expense ratio is too high, there are other options to fill this portfolio spot, it's another Wellington Management Company fund, and the description of how stocks will be selected is the same boilerplate that appears in just about every actively-managed value fund prospectus.
"In a time of universal deceit, telling the truth becomes a revolutionary act." - George Orwell | Diligentia. Vis. Celeritas. - Jeff Cooper | Original Vanguard Diehard

pkjr
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Re: Press Release 10/1/19--Vanguard Adds To Its Active Lineup With Launch Of International Core Stock Fund

Post by pkjr » Tue Oct 08, 2019 8:25 pm

abuss368 wrote:
Thu Oct 03, 2019 9:15 pm
fortyofforty wrote:
Thu Oct 03, 2019 9:09 pm
abuss368 wrote:
Thu Oct 03, 2019 7:41 pm
MFInvestor wrote:
Fri Jul 19, 2019 9:48 am
[Title was "Vanguard Expands Active Roster With Proposed International Core Stock Fund"

The fund has been launched, see below. --admin LadyGeek]


Press Release by Vanguard 7/18/2019
I didn't see anything on the forum regarding this

https://pressroom.vanguard.com/news/Pre ... 71819.html
VALLEY FORGE, PA (July 18, 2019)—Vanguard today filed a preliminary registration with the U.S. Securities and Exchange Commission for Vanguard International Core Stock Fund. The new actively managed fund will be managed by Wellington Management Company LLP (Wellington Management) and is expected to be available to investors in the fourth quarter of 2019.

Vanguard, one of the largest providers of actively managed funds in the asset management industry, has been expanding its actively managed roster over the past two years, introducing a suite of factor ETFs, an ESG fund, a commodities fund, two global balanced funds, and two fixed income funds —Vanguard Global Credit Bond Fund and Vanguard Emerging Markets Bond Fund.

A low-cost, diversified entrant to the market

Vanguard International Core Stock Fund will offer broad equity exposure to both developed and emerging non-U.S. markets, blending growth and value styles and diversifying across a range of sectors. The fund will seek to provide long-term capital appreciation and hold approximately 60-100 stocks, with no individual positions representing greater than 5% of the portfolio. It is expected to have moderate overweight or underweight allocations to sectors and regions relative to the MSCI ACWI ex USA Index.
Thank you for sharing. It just continues to puzzle why the search for alpha and all the active funds that are being developed and marketed by Vanguard. Commodities, Core Bond, Core International. What is next?
Vanguard apparently does not value the teachings of John Bogle as much as Bogleheads do.
Sad and I will never understand that.
Make no mistake, Vanguard like Schwab, Fidelity and others is here to make money. It’s a business that is there to maximize shareholders value. We are not shareholders.

557880yvi
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Re: Press Release 10/1/19--Vanguard Adds To Its Active Lineup With Launch Of International Core Stock Fund

Post by 557880yvi » Wed Oct 09, 2019 5:14 am

pkjr wrote:
Tue Oct 08, 2019 8:25 pm
abuss368 wrote:
Thu Oct 03, 2019 9:15 pm
fortyofforty wrote:
Thu Oct 03, 2019 9:09 pm
abuss368 wrote:
Thu Oct 03, 2019 7:41 pm
MFInvestor wrote:
Fri Jul 19, 2019 9:48 am
[Title was "Vanguard Expands Active Roster With Proposed International Core Stock Fund"

The fund has been launched, see below. --admin LadyGeek]


Press Release by Vanguard 7/18/2019
I didn't see anything on the forum regarding this

https://pressroom.vanguard.com/news/Pre ... 71819.html

Thank you for sharing. It just continues to puzzle why the search for alpha and all the active funds that are being developed and marketed by Vanguard. Commodities, Core Bond, Core International. What is next?
Vanguard apparently does not value the teachings of John Bogle as much as Bogleheads do.
Sad and I will never understand that.
Make no mistake, Vanguard like Schwab, Fidelity and others is here to make money. It’s a business that is there to maximize shareholders value. We are not shareholders.
aren't we, the investors in the funds, the shareholders? See this article from Jun 2019

https://www.investopedia.com/articles/i ... -group.asp

brokendirtdart
Posts: 168
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Re: Press Release 10/1/19--Vanguard Adds To Its Active Lineup With Launch Of International Core Stock Fund

Post by brokendirtdart » Wed Oct 09, 2019 6:26 am

abuss368 wrote:
Fri Oct 04, 2019 12:28 pm
lostdog wrote:
Fri Oct 04, 2019 9:30 am
abuss368 wrote:
Thu Oct 03, 2019 7:41 pm
MFInvestor wrote:
Fri Jul 19, 2019 9:48 am
[Title was "Vanguard Expands Active Roster With Proposed International Core Stock Fund"

The fund has been launched, see below. --admin LadyGeek]


Press Release by Vanguard 7/18/2019
I didn't see anything on the forum regarding this

https://pressroom.vanguard.com/news/Pre ... 71819.html
VALLEY FORGE, PA (July 18, 2019)—Vanguard today filed a preliminary registration with the U.S. Securities and Exchange Commission for Vanguard International Core Stock Fund. The new actively managed fund will be managed by Wellington Management Company LLP (Wellington Management) and is expected to be available to investors in the fourth quarter of 2019.

Vanguard, one of the largest providers of actively managed funds in the asset management industry, has been expanding its actively managed roster over the past two years, introducing a suite of factor ETFs, an ESG fund, a commodities fund, two global balanced funds, and two fixed income funds —Vanguard Global Credit Bond Fund and Vanguard Emerging Markets Bond Fund.

A low-cost, diversified entrant to the market

Vanguard International Core Stock Fund will offer broad equity exposure to both developed and emerging non-U.S. markets, blending growth and value styles and diversifying across a range of sectors. The fund will seek to provide long-term capital appreciation and hold approximately 60-100 stocks, with no individual positions representing greater than 5% of the portfolio. It is expected to have moderate overweight or underweight allocations to sectors and regions relative to the MSCI ACWI ex USA Index.
Thank you for sharing. It just continues to puzzle why the search for alpha and all the active funds that are being developed and marketed by Vanguard. Commodities, Core Bond, Core International. What is next?
Core Domestic. You'll have the option for a 3 fund active portfolio someday.
I suspect that may be correct.
They just about have it with Wellington's Dividend Growth Fund (VDIGX). Maybe add the word ""Core" to the fund name to attract people seeking "core" funds and anything to do with dividends*.
*acknowledge that the dividend growth methodology is not necessarily a dividend yield play.

Northern Flicker
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Re: Press Release 10/1/19--Vanguard Adds To Its Active Lineup With Launch Of International Core Stock Fund

Post by Northern Flicker » Wed Oct 09, 2019 2:35 pm

The
SPIVA scorecard
web site has this to say about actively managed int’l equity funds compared to domestic US ones:
Active funds of foreign exposure underperform their benchmarks more severely.
Risk is not a guarantor of return.

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