Oct. 21, 2004 — Vanguard Group is adding a team of managers to the Vanguard Global Equity (VHGEX) and will reopen the fund to new investors on Friday.
Vanguard said on Thursday that Acadian Asset Management Inc., which specializes in international equities and uses computer programs to pick stocks, will join Marathon Asset Management LLP of London in overseeing the fund.
Boston-based Acadian will initially be responsible for about 5% of the assets currently held by the fund, which total approximately $965 million, Vanguard said. A “majority of net new cash flow will be directed” to the company, Vanguard added. Marathon has managed the fund since it began operations in 1995.
The new management team includes Ronald Frashure, the president and co-chief investment officer of Acadian; Brian Wolahan, the firm’s director of research; and co-chief investment officer John Chisholm.
“The addition of Acadian enables us to build a deeper management team and a more diversified fund, while retaining the fund’s character as a global equity offering that invests across developed and emerging market countries,” Vanguard chairman John J. Brennan said in a statement.
The fund closed to new investments in December 2003.
Contact Bob Keane with questions or comments at: [email protected].