Vanguard Group reopened its $36.6 billion Dividend Growth Fund to all investors, the company announced in a news release Thursday.
Vanguard closed the fund to new accounts in July 2016 to control asset growth. Since cash flow has subsequently subsided and market conditions have changed since the fund's closing, the fund has been reopened.
"After careful analysis of the fund's current cash flows and asset level, and following consultation with the fund's adviser, we're confident that there is ample capacity to reopen the fund," said Matthew Brancato, head of Vanguard's portfolio review department, in the release.
The Dividend Growth Fund was launched in 1992 to provide investors with some income while offering exposure to dividend-focused companies across all industries. The fund focuses on high-quality companies that have the ability to grow their dividends.
Vanguard managed $5.6 trillion in global assets as of April 30.