Vanguard Group is expanding its offerings with the addition of the Vanguard Structured Large-Cap Value Fund, now in registration with the Securities and Exchange Commission. The new fund, which Vanguard hopes to launch by mid-January, will offer both institutional and institutional-plus shares with investment minimums of $5 million and $200 million, respectively.

Investors who have $1 billion invested at Vanguard are eligible for the institutional-plus shares with a $100 million investment. The fund will seek to outperform the Russell 1000 Value Index by using a quantitative approach to identify the most attractive stocks in the benchmark.

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