I call this growth fund a “secret” fund because it’s not even a Vanguard fund. But it could be, because it’s practically identical to three of Vanguard’s very best funds: Capital Opportunity (VHCOX) (now closed to new investors), PRIMECAP (VPMCX) (also closed) and PRIMECAP Core (VPCCX) (closed).

This fund’s minimum is just $2,000. And instead of the 1%, 1-year back-end load on Vanguard’s funds, it’s only got a two-month required holding period. But who cares? This fund’s a long-term keeper.

The name of the fund is PRIMECAP Odyssey Aggressive Growth (POAGX). And this PRIMECAP “knock-off” goes after appreciation by investing in common stocks of companies expected to show rapid earnings growth.

You wouldn’t mind seeing some rapid earnings growth right about now, am I right? But if you’re not thrilled with the fact that the original PRIMECAP is closed to all but Vanguard’s highest net-worth investors willing to put $25,000 in at a pop, then buy into PRIMECAP Odyssey Aggressive Growth for just $2,000.

I feel so strongly that this fund is going to be a long-term winner because I believe in its managers. The PRIMECAP team has made a fortune for my Independent Adviser subscribers and for me personally. I have been a long-term holder of both their PRIMECAP and Capital Opportunity funds.

But those funds are both closed to most investors, and their size will make them less and less able to continue to outperform their benchmarks.

So I’m recommending PRIMECAP Odyssey Aggressive Growth today. You get the same outstanding management team, led by Howard Schow and his longtime crew of superlative growth managers.

How about that? One of the best ideas for Vanguard investors is a non-Vanguard fund! That’s the kind of independent thinking you’ll find in every issue of The Independent Adviser for Vanguard Investors. Get details on how to join risk-free for six months here.