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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.
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).
Comments
Regards,
Ted
Vanguard Website: VAFSX Overview:
https://institutional.vanguard.com/VGApp/iip/site/institutional/investments/productoverview?fundId=1298
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).