Vanguard launched two actively managed balanced global mutual funds on Wednesday.
The Global Wellington Fund and the Global Wellesley Income Fund will both be managed by Wellington Management Company, Vanguard’s long-time investment advisory partner.
The Global Wellington Fund focus on long-term capital appreciation and moderate income by investing approximately 65 percent of its assets in U.S. and non-U.S. equities and 35 percent U.S. and non-U.S. fixed income securities. Investor shares of the fund will carry an expense ratio of 0.45 percent, while Admiral shares of the fund will have an expense ratio of 0.35 percent.
The Global Wellesley Income Fund will take a more conservative approach, investing 35 percent of its assets in global equities and 65 percent of its assets in global fixed-income securities with a goal of producing high and sustainable levels of income with moderate capital appreciation. Investor shares of the fund have an expense ratio of 0.42 percent, while Admiral shares of the fund carry an expense ratio of 0.32 percent.
For the new funds, Investor shares will require an initial minimal investment of $3,000, while Admiral shares will require an initial investment of at least $50,000.
Wellington Management continues to oversee the $102.7 billion Vanguard Wellington Fund, which it has managed since 1929, and the $54.2 billion Vanguard Wellesely Income Fund, which it has managed since 1970.