On June 1, Vanguard will reopen its Windsor Fund, which currently has $16.97 billion of assets under management and seeks long-term growth of capital and income. The fund was initially launched in 1958 and has been closed since 1990 when Vanguard decided the fund's assets had grown to an unmanageable level, according to a Vanguard spokesperson. Wellington Management Company of Boston will continue as lead adviser.

However, Vanguard has also hired Sanford C. Bernstein & Co. of New York to manage a small portion of the fund's assets. The Vanguard spokesperson did not disclose which assets this will entail.

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