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In this Discussion

  • Joe March 2016
  • msf March 2016
  • Ted March 2016
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Vanguard Alternative Strategies VAFSX

Vanguard Alternative Strategies VAFSX is interesting. Has anyone been able to purchase this fund, even at the $250k minimum? It looks locked behind vanguard's institutional advisory services which doesn't appear accessible to regular investors.

Comments

  • @thundley459: You are correct, the fund is only available to clients of Vanguard Institutional Advisory Services® (VIAS).
    Regards,
    Ted
    Vanguard Website: VAFSX Overview:
    https://institutional.vanguard.com/VGApp/iip/site/institutional/investments/productoverview?fundId=1298
  • May be similar to VMNFX a market neutral fund which is available. Interesting fund.
  • VASFX is also available as an underlying fund in Vanguard Managed Payout Fund VPGDX. (VASFX currently represents 10% of the parent fund.)

    While there are some similarities between VASFX and VMNFX (e.g. they are the only two funds in VPGDX that are allowed to short), a look at the VPGDX prospectus suggests that they are rather different.

    VMNFX is a pretty straightforward market neutral fund, with long and short equity positions, including foreign equity. (See pp. 35-37, pdf pp. 41-43). In comparison, VASFX will hold or short almost anything - stocks, bonds, currency contracts, futures (including commodities), and swaps. (See pp. 38-41, pdf pp. 44-47).
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