Primecap, which has sub-advised two Vanguard funds for the past 20 years that have since been closed to new investors, has filed with the SEC to offer three mutual funds, its first such offering, CBSMarketWatch reports. The three funds will put it in direct competition with Vanguard, as investors who are unable to participate in the Vanguard funds will realize Primecap’s new offerings are being run by the same management team, according to The Independent Advisor for Vanguard Investors. Nonetheless, a spokesman for Vanguard said the firm plans on continuing its relationship with Vanguard.

Primecap manages the Vanguard Primecap Fund and Vanguard Capital Opportunity Fund, for which it collects nearly $40 million in investment advisory fees. Its three new offerings are the Odyssey Growth Fund, Odyssey Aggressive Growth Fund and Odyssey Stock Fund.

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