Vgd alt strategies fund (vasfx) open to retail investors?

Discuss all general (i.e. non-personal) investing questions and issues, investing news, and theory.
User avatar
hdas
Posts: 1256
Joined: Thu Jun 11, 2015 8:24 am

Re: Vgd alt strategies fund (vasfx) open to retail investors?

Post by hdas » Tue Nov 05, 2019 10:07 pm

grok87 wrote:
Tue Nov 05, 2019 6:59 pm
VASFX minimum now $50k
https://investor.vanguard.com/mutual-fu ... fees/vasfx
It says
Closed to new investors
:confused
"whenever there is a randomized way of doing something, then there is a nonrandomized way that delivers better performance but requires more thought" ET Jaynes

james22
Posts: 1424
Joined: Tue Aug 21, 2007 2:22 pm

Re: Vgd alt strategies fund (vasfx) open to retail investors?

Post by james22 » Wed Nov 06, 2019 5:48 am

I see that, hdas. Hope is in error.

I plan to buy to a 5-10% position after the new year.

Winthorpe
Posts: 291
Joined: Mon Apr 13, 2009 12:29 am

Re: Vgd alt strategies fund (vasfx) open to retail investors?

Post by Winthorpe » Fri Nov 08, 2019 2:22 pm

hdas wrote:
Tue Nov 05, 2019 10:07 pm
grok87 wrote:
Tue Nov 05, 2019 6:59 pm
VASFX minimum now $50k
https://investor.vanguard.com/mutual-fu ... fees/vasfx
It says
Closed to new investors
:confused
Nice. Well, that was anticlimactic!

Winthorpe
Posts: 291
Joined: Mon Apr 13, 2009 12:29 am

Re: Vgd alt strategies fund (vasfx) open to retail investors?

Post by Winthorpe » Fri Nov 08, 2019 2:30 pm

When I look on the institutional and advisors sites, it says nothing about be closed to new investors. It only states "This fund is not available for health savings accounts, 529 plans, or defined contribution plans."

Fact sheet says AUM is $319 MM. For these strategies, I'm not sure if this is getting too big or not.

Winthorpe

User avatar
jhfenton
Posts: 4207
Joined: Sat Feb 07, 2015 11:17 am
Location: Ohio

Re: Vgd alt strategies fund (vasfx) open to retail investors?

Post by jhfenton » Fri Nov 08, 2019 4:08 pm

At the moment, it does appear to be closed. I wasn't going to go through with the trade, but I just tried to exchange >$50K into VASFX, and was blocked with a message that the fund is closed.

Topic Author
grok87
Posts: 8842
Joined: Tue Feb 27, 2007 9:00 pm

Re: Vgd alt strategies fund (vasfx) open to retail investors?

Post by grok87 » Fri Nov 08, 2019 5:30 pm

jhfenton wrote:
Fri Nov 08, 2019 4:08 pm
At the moment, it does appear to be closed. I wasn't going to go through with the trade, but I just tried to exchange >$50K into VASFX, and was blocked with a message that the fund is closed.
thanks for the update, very weird.
RIP Mr. Bogle.

User avatar
hdas
Posts: 1256
Joined: Thu Jun 11, 2015 8:24 am

Re: Vgd alt strategies fund (vasfx) open to retail investors?

Post by hdas » Sat Nov 09, 2019 10:45 am

Winthorpe wrote:
Fri Nov 08, 2019 2:30 pm
When I look on the institutional and advisors sites, it says nothing about be closed to new investors. It only states "This fund is not available for health savings accounts, 529 plans, or defined contribution plans."

Fact sheet says AUM is $319 MM. For these strategies, I'm not sure if this is getting too big or not.

Winthorpe
Not too big at all yet. Cheers :greedy
"whenever there is a randomized way of doing something, then there is a nonrandomized way that delivers better performance but requires more thought" ET Jaynes

User avatar
hdas
Posts: 1256
Joined: Thu Jun 11, 2015 8:24 am

Re: Vgd alt strategies fund (vasfx) open to retail investors?

Post by hdas » Wed Nov 13, 2019 9:30 am

Here’s what they say in the advisors website:

Effective today, the fund has adopted a new risk methodology that targets a fixed range of volatility set by the fund manager. This fixed range of volatility may change from time to time. The fund manager will consider risk levels of the individual strategies, composition of the portfolio, and market conditions when determining the fixed volatility range.

With the shift to a fixed volatility range, the fund's investment objective and benchmark have also changed. The two components of the fund's new investment objective will be: to seek to generate returns that have low correlation with the returns of the stock and bond markets and to seek capital appreciation.

The fund's new benchmark index is the FTSE 3-Month Treasury Bill Index, which replaces the FTSE 3-month US T-Bill Index + 4%. The new benchmark is expected to give investors a clearer expectation of how the Alternative Strategies Fund will behave. In addition to having low correlation to stock and bond returns, the fund is expected to provide positive absolute returns. It is also expected to have higher returns than cash over the long term, while experiencing more volatility than cash.
Cheers :greedy
"whenever there is a randomized way of doing something, then there is a nonrandomized way that delivers better performance but requires more thought" ET Jaynes

Topic Author
grok87
Posts: 8842
Joined: Tue Feb 27, 2007 9:00 pm

Re: Vgd alt strategies fund (vasfx) open to retail investors?

Post by grok87 » Wed Nov 13, 2019 9:51 am

hdas wrote:
Wed Nov 13, 2019 9:30 am
Here’s what they say in the advisors website:

Effective today, the fund has adopted a new risk methodology that targets a fixed range of volatility set by the fund manager. This fixed range of volatility may change from time to time. The fund manager will consider risk levels of the individual strategies, composition of the portfolio, and market conditions when determining the fixed volatility range.

With the shift to a fixed volatility range, the fund's investment objective and benchmark have also changed. The two components of the fund's new investment objective will be: to seek to generate returns that have low correlation with the returns of the stock and bond markets and to seek capital appreciation.

The fund's new benchmark index is the FTSE 3-Month Treasury Bill Index, which replaces the FTSE 3-month US T-Bill Index + 4%. The new benchmark is expected to give investors a clearer expectation of how the Alternative Strategies Fund will behave. In addition to having low correlation to stock and bond returns, the fund is expected to provide positive absolute returns. It is also expected to have higher returns than cash over the long term, while experiencing more volatility than cash.
Cheers :greedy
Thanks
I’m out now. Volatility targeting is crap
RIP Mr. Bogle.

james22
Posts: 1424
Joined: Tue Aug 21, 2007 2:22 pm

Re: Vgd alt strategies fund (vasfx) open to retail investors?

Post by james22 » Thu Nov 14, 2019 7:31 am

hdas wrote:
Wed Nov 13, 2019 9:30 am
The fund's new benchmark index is the FTSE 3-Month Treasury Bill Index, which replaces the FTSE 3-month US T-Bill Index + 4%.
Too bad.

OUT

Winthorpe
Posts: 291
Joined: Mon Apr 13, 2009 12:29 am

Re: Vgd alt strategies fund (vasfx) open to retail investors?

Post by Winthorpe » Wed Nov 20, 2019 7:08 pm

Also, if anyone was still interested after the changes, it appears that it's only available to clients of their financial advisors by the sounds of the news release.

Vanguard wrote:In order to give more clients the opportunity to invest in alternative investments at a low cost, financial advisor clients will become eligible to purchase shares of Vanguard Alternative Strategies Fund (VASFX) effective on or about Monday, November 4, 2019.
Here is a link to the news if anyone wants to read it:
https://advisors.vanguard.com/insights/ ... News110119

james22
Posts: 1424
Joined: Tue Aug 21, 2007 2:22 pm

Re: Vgd alt strategies fund (vasfx) open to retail investors?

Post by james22 » Wed Nov 20, 2019 11:57 pm

Lame.

Was really hoping for a Vanguard alternative to QSPIX/QSPNX/QMHIX.

Post Reply