Vanguard Adds Fourth Subadvisor For its International Fund
by:
Erin Kello
Vanguard has tapped a fourth subadvisor for its $9.3-billion Vanguard International Value Fund. Scotland-based Edinburgh Partners joins three other firms -- AllianceBernstein, Lazard Asset Management and Hansberger Global Investors -- in subadvising the fund.
Company Press Release
VALLEY FORGE, Pa. - (Business Wire) The board of trustees for the $9.3 billion Vanguard® International Value Fund has announced the addition of Edinburgh Partners Limited to the fund. Edinburgh Partners is an investment management firm based in Edinburgh, Scotland, with $7.9 billion in assets under management. AllianceBernstein L.P., Lazard Asset Management LLC, and Hansberger Global Investors, will continue to serve as advisors to the fund.
“Over the past two decades, we have successfully teamed investment advisors with distinct, disciplined investment approaches to enhance many of our actively managed portfolios,” said Vanguard Chairman and CEO John J. Brennan, who noted that 16 of Vanguard’s actively managed stock funds were multi-managed. “The addition of Edinburgh Partners brings a fourth, high-quality management team to the fund.”
Edinburgh Partners employs a concentrated, low turnover, value-oriented investment approach that results in a portfolio of companies with good long-term prospects and below market price-to-earnings ratios. In-depth fundamental research on industries and companies is central to the firm’s investment process.
Dr. Sandy Nairn, Chief Executive and Investment Partner of Edinburgh Partners Limited, and Christine Montgomery, Investment Partner, will serve as portfolio managers to the fund. Dr. Nairn co-founded the firm in 2003, and has more than 23 years of investment management experience. He holds a Ph.D. in Economics from the University of Strathclyde/Scottish Business School. Ms. Montgomery has 19 years of investment management experience. She holds an Economics & Accounting MA from the University of Edinburgh.
About Vanguard
Vanguard, headquartered in Valley Forge, Pennsylvania, is one of the world’s largest investment management companies and a leading provider of company-sponsored retirement plan services. Vanguard manages nearly $1.3 trillion in U.S. mutual fund assets, including more than $390 billion in employer-sponsored retirement plans. Vanguard offers more than 150 funds to U.S. investors and more than 50 additional funds in non-U.S. markets.
All asset figures are as of April 30, 2008, unless otherwise noted.
For more information, visit www.vanguard.com, or call 800-662-7447 to obtain a fund prospectus. Investment objectives, risks, charges, expenses, and other important information about a fund are contained in the prospectus; read and consider it carefully before investing.
Investments are subject to risk. Foreign investing involves additional risks, including currency fluctuations and political uncertainty.
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