Mutual funds giant Vanguard said Thursday that it is closing the $962.5 million Vanguard Convertible Securities Fund and will liquidate the fund in late March 2019.

Shareholders of the fund can exchange into another Vanguard fund or redeem shares prior to the liquidation date, at which time the fund’s assets will be sold and the proceeds distributed.

Vanguard said it “determined that investors could achieve similar risk-return exposures and long-term returns by investing in a diversified, balanced portfolio of global stock and bond funds.”

Vanguard launched the fund in 1986, primarily for pension funds, endowments, and corporate and non-profit retirement plans, but “the fund has not gained broad acceptance among these investors and remains one of the smallest offerings in terms of net assets among Vanguard’s stock and balanced offerings,” the firm said in the statement.

“We are adding new products that have investment merit and investor demand, changing advisors and mandates to improve investor outcomes, and eliminating funds that lack a distinct role or strong investment case,” said Matthew Brancato, head of Vanguard’s Portfolio Review Department.

Vanguard liquidated its Ohio Tax-Exempt Money Market Fund in 2017 and the U.K.-domiciled Ultra- Short-Term Bond Fund in 2018.

The fund’s advisor, Oaktree Capital Management, will oversee the shutdown and continue to manage portions of the U.S.-domiciled Vanguard Emerging Markets Select Stock Fund and the U.K.-domiciled Vanguard Global Emerging Markets Fund.