Vanguard Announces Advisory Changes for Vanguard International Explorer Fund

VALLEY FORGE, Pa., March 17, 2025 /PRNewswire/ -- Vanguard today announced changes to the investment advisory arrangements of Vanguard International Explorer Fund. Effective today, the fund will be managed by current advisors Wellington Management Company LLP and Schroder Investment Management North America Inc. Assets previously managed by Baillie Gifford will be reallocated to Wellington Management.

As part of its oversight responsibilities, the fund's Board of Trustees considers numerous factors in the evaluation of current and prospective investment advisors, including evaluation of the investment team, philosophy, and process, as well as long-term performance results. After careful consideration, the fund's board concluded that changes to the advisory structure would best serve the fund's shareholders.

Following the transition, the target advisor allocations for the $1.3 billion* International Explorer Fund will be as follows: Wellington Management, 60%, and Schroders, 40%. As a result of these changes, the expense ratio will increase from 0.44% to 0.45%. However, the fund's expense ratio will remain among the lowest in its Morningstar peer group.

The investment objective, principal investment strategies, and policies of the fund will remain the same.

About Vanguard
Founded in 1975, Vanguard is one of the world's leading investment management companies. The firm offers investments, advice, and retirement services to tens of millions of individual investors around the globe - directly, through workplace plans, and through financial intermediaries. Vanguard operates under a unique, investor-owned structure where Vanguard fund shareholders own the funds, which in turn own Vanguard. As such, Vanguard adheres to a simple purpose: To take a stand for all investors, to treat them fairly, and to give them the best chance for investment success. For more information, visit vanguard.com.

*All figures as of January 31, 2025 unless stated otherwise.

For more information about Vanguard funds, visit vanguard.com to obtain a prospectus or, if available, a summary prospectus. Investment objectives, risks, charges, expenses, and other important information are contained in the prospectus; read and consider it carefully before investing. The fund's Board of Trustees designates the proportion of fund assets to be managed by each advisor and may change these proportions at any time.

All investing is subject to risk, including possible loss of principal. Diversification does not ensure a profit or protect against a loss.

Investments in stocks issued by non-U.S. companies are subject to risks including country/regional risk and currency risk.

Vanguard Marketing Corporation, Distributor.

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SOURCE Vanguard