Vanguard's [profile] simplifying bug has hit its managed-payout products, reports Jason Kephart of InvestmentNews.

The low cost giant is doing away with the $110 million Vanguard Managed Payout Growth Focus Fund, with a targeted 3 percent distribution, and the $804 million Vanguard Managed Payout Distribution Focus Fund, which has a 7 percent distribution target.

They will both be merged into the $531 million Vanguard Managed Payout Growth and Distribution Fund, with a 5 percent distribution target. 

Edited by: Tommy Fernandez


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