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Vanguard Adds Manager to Four Funds

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June 16, 2003 — A Vanguard principal who has been responsible for finding and evaluating outside managers for its mutual funds has been appointed to help run four portfolios.

Vanguard named Joel M. Dickson co-manager of Vanguard Strategic Equity (VSEQX), Vanguard Morgan Growth/Inv (VMRGX), Vanguard Explorer (VEXPX) and Vanguard Windsor II/Inv (VWNFX).

Dickson, who uses computer models to determine which stocks to buy and sell, joins Gus Sauter, Vanguard’s chief investment officer, in managing the parts of the funds that are overseen by the company’s quantitative equity group, Vanguard said. Sauter also oversees Vanguard’s stock index funds.

Dickson, who joined Vanguard in 1996, is a member of its portfolio review group, which selects and judges the performance of the outside managers who run many of its funds.