Podcast Center
Video Center
Webcasts
Resource Center
Events
April 23, 2004 at 08:00 PM
April 19, 2004 — Vanguard Group on Monday added portfolio managers to help oversee the Vanguard US Growth Fund (VWUSX) and the Vanguard International Value Fund (VTRIX), which have combined assets of about $9 billion.
A team from William Blair & Co. LLC joined the $7.3 billion US Growth Fund and will handle 25%-30% of its assets. The fund’s other manager, Alliance Cap Mgmt Holding L.P. (AC), will be responsible for the remainder.
A team from Alliance’s Sanford C. Bernstein & Co. LLC subsidiary was added to the $1.9 billion International Value Fund, joining Hansberger Global Investors Inc. Vanguard said it will shift 25%-30% of the fund’s assets to the new managers over the next “several” months by redirecting new investments and reallocating current assets. Hansberger, a value-oriented firm, has served as the fund’s outside manager since 2000.
The moves are aimed at improving the funds’ performance by combining teams with “complementary” investment styles, a Vanguard spokeswoman said. Bernstein is a value-oriented shop, while Blair seeks growing companies.
