Two of Vanguard's best funds are reopening to all investors after being closed for the better part of two decades.

In January, I told you that Vanguard was considering reopening its three funds sub-advised by the PRIMECAP Management team. Well, today, Vanguard unlocked the doors at PRIMECAP (VPMCX) and PRIMECAP Core (VPCCX).

Vanguard's other PRIMECAP-run fund, Capital Opportunity (VHCOX), is still closed to new investors.

The timing is a little curious. The market is at all-time highs, and the three PRIMECAP-run funds have as many assets as ever.

So, why is Vanguard reopening two of the three funds now?

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