Its bottom-up approach seeks high-quality companies whose earnings and cash flows increase faster than the market,” according to the release. “We are delighted to have the opportunity to expand our relationship with Baillie Gifford,” noted Vanguard Chairman and CEO John Brennan, in the announcement.
Two Edinburgh, Scotland-based teams will run portions of the Vanguard funds. Baillie Gifford’s Charles Plowden, a joint senior partner and chief of investment staff, leads the team will manage part of the Vanguard Global Equity Fund, along with current advisors, Marathon Asset Management LLP, AllianceBernstein L.P., and Acadian Asset Management. A team led by Mick Brewis, a partner and member of the Investment Policy Committee, will join Turner Investment Partners to run Vanguard Growth Equity Fund.