Vanguard Changes Advisor Assignment for Mid-Cap Growth Fund

Vanguard said (June 8, 2006) that Provident Investment Counsel will no longer serve as an advisor to its $757-million Vanguard Mid Cap Growth Fund (VMGRX).

Under a change in its multi-manager investment advisory agreement, the fund's assets have been reallocated equally between Chartwell Investment Partners, a current advisor to the fund, and a new advisor, William Blair & Co.

Provident Investment had managed 40% of the fund.

Ranked 3 Stars by Standard & Poor's, the Mid-Cap Growth Fund gained 19.3% for the one-year period through May 31, 2006, versus a 16.9% return for its small-cap growth peer group. Over the three-year period, the fund rose 16.0% (annualized), just under the 16.4% average of the peer group.

Reprints Discuss this story
We welcome your thoughts. Please allow time for your contribution to be approved and posted. Thank you.

Most Recent Videos

Video Library ››