Asset Management

Vanguard blames pricing error as funds appear to have value halved

Drops were particularly concerning on a day when the Dow Jones Industrial Average fell almost 400 points

Some of Vanguard’s funds appeared to lose as much as half their value on Monday — but the company says those losses were just pricing glitches that were quickly rectified.

The $56bn Vanguard Wellesley Income fund, which invests in large cap value stocks and investment-grade bonds, appeared to lose 56%, according to Vanguard’s website.

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