Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Portfolio > Mutual Funds

Outside Vanguard Fund Manager to Retire

Your article was successfully shared with the contacts you provided.

Robert Soucy, a stock picker at Grantham, Mayo, Van Otterloo & Co. LLC who helps manage two Vanguard Group mutual funds, will retire at year-end, the fund company said on Wednesday.

Soucy will be replaced on the $10.5 billion Vanguard Explorer Fund (VEXPX) and the $987 million Vanguard U.S. Value Fund (VUVLX) by Grantham, Mayo portfolio manager Sam Wilderman, starting in January.

Grantham, Mayo, known as GMO, has managed the U.S. Value Fund since its inception in June 2000, and oversees about 28% of the assets of the Explorer Fund, which is also managed by Vanguard and four other investment firms. Soucy had been part of Explorer’s management team since 2000.

Wilderman also will continue as director of U.S. equity management for GMO. He and Soucy are currently are co-directors. Wilderman, who joined the firm in 1996, previously was responsible for research and portfolio management for three GMO funds that invest in emerging markets.

The U.S. Value Fund returned 13.7% for the one-year period through September, versus a 13.6% gain by its large-cap value fund peers. The Explorer Fund rose 21.1% during the same period, compared to a 19.1% climb by the average small-cap growth fund. Both funds are ranked 3 Stars by Standard & Poor’s.

Vanguard also announced that the American Stock Exchange has begun trading options on two of the fund company’s exchange-traded funds that invest overseas, Vanguard European VIPERS (VGK), and Vanguard Pacific VIPERS (VPL).

Contact Bob Keane with questions or comments at: [email protected].


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.