Vanguard Group, the nation's second-largest mutual fund firm, will to close two of its equity funds in order to temper asset growth of the funds.

The Vanguard Explorer Fund is now closed to any new accounts. Existing shareholders will be limited to $25,000 in investments, annually, per account. The Vanguard Precious Metals and Mining Fund is also closed to new accounts. However, existing shareholders in that fund are not being subjected to any future caps.

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