The $8.7 billionVanguard Capital Opportunity Fund(VHCOX) is now open to individual investors for the first time since 2004 and its $25,000 annual contribution limit for individual investors has been removed.

The fund closed in 2004 because of the combination of extraordinary market conditions and exceptionally high cash flows, which made it difficult for the advisor to execute the fund's investment strategy effectively, according to the firm.

“After careful consideration of the fund's current size and cash flow, the fund's board of trustees determined that access can be expanded once again to include all individual investors,” according to a firm statement.

The aggressive multi-cap growth fund, which bets on companies that “will grow in time but may be volatile in the short term,” has experienced$2.6 billion in net outflowsover the past three years, according to Morningstar.