According to the announcement, the new fund will offer both institutional and institutional plus shares with investment minimums of $5 million and $200 million, respectively. However, investors with $1 billion invested at Vanguard are eligible for the institutional plus shares with a $100 million investment.
The Vanguard Structured Large-Cap Value Fund will seek to outperform the Russell 1000 Value Index and will be overseen by the Vanguard Quantitative Equity Group, the announcement said.
Other funds in Vanguard’s structured equity offering include the Vanguard Structured Broad Market Fund, the Vanguard Structured Large-Cap Growth Fund, and the Vanguard Structured Large-Cap Equity Fund. The firm currently has 32 low-cost institutional investment offerings appropriate for pension plans, endowments and foundations, and corporate investors.