Vanguard Appoints New Portfolio Managers to Flagship Index Funds

VALLEY FORGE, Pa., Nov. 30, 2017 /PRNewswire/ -- Vanguard has appointed seven experienced investment management professionals as portfolio managers of 23 equity index funds, including some of the largest index funds in the world. Vanguard, which manages $3.56 trillion in index fund assets, periodically rotates its portfolio management staff across the globe in order to strengthen the breadth and depth of the firm's investment management capabilities.

"For more than 40 years, Vanguard has been an industry leader in developing and managing index funds, employing seasoned professionals, and using proprietary trading strategies to manage portfolios effectively and efficiently," said Vanguard Chief Investment Officer Greg Davis. "With these changes, our clients across the globe can benefit from the nearly 100 years of combined investment management experience these portfolio managers bring to the funds."  

The following portfolio management assignments have been announced:

• Michelle Louie, CFA, has been named co-portfolio manager of the $367.5 billion Vanguard 500 Index Fund, the industry's first index fund introduced in 1976. Ms. Louie, who joined Vanguard in 2010, will also co-manage the following funds: Vanguard Employee Benefit Fund, Vanguard Financials Index Fund, Vanguard Health Care Index Fund, Vanguard Industrials Index Fund, Vanguard Institutional Index Fund, Vanguard Materials Index Fund, Vanguard S&P 500 Growth Index Fund, Vanguard S&P 500 Value Index Fund, and Vanguard Variable Insurance Fund – Equity Index Portfolio.
• Christine Franquin will be the co-portfolio manager of the $315.6 billion Vanguard Total International Stock Index Fund. Ms. Franquin has been with Vanguard's Equity Investment Group since 2011.
• Awais Khan, CFA, who joined the firm in 2010, will be the co-portfolio manager of the following funds: Vanguard Consumer Discretionary Index Fund, Vanguard Consumer Staples Index Fund, Vanguard Energy Index Fund, Vanguard S&P Mid-Cap 400 Growth Index Fund, Vanguard S&P Mid-Cap 400 Index Fund, Vanguard S&P Mid-Cap 400 Value Index Fund, Vanguard Telecommunication Services Index Fund, and Vanguard Utilities Index Fund.
• William A. Coleman, CFA, a portfolio manager who joined Vanguard in 2006, will co-manage the $60.7 billion Vanguard Extended Market Index Fund.
• Scott Geiger, who joined Vanguard in 2006, will rotate to Vanguard's international desk and assume a co-portfolio manager role for the $13.8 billion Vanguard Total World Stock Index Fund.
• Michael A. Johnson, an 18-year Vanguard veteran, will be the co-portfolio manager for the $17.3 billion Vanguard Information Technology Index Fund.
• Michael Perre, a Vanguard principal with 27 years of investment management experience, will be the co-portfolio manager for the $102.4 billion Vanguard Developed Markets Index Fund.

"These recently named portfolio managers are able to draw on their diverse perspectives and deep knowledge of Vanguard's fund management approach to help ensure we deliver precise tracking to our benchmarks and competitive investment performance to our clients," said Joe Brennan, Global Head of Vanguard's Equity Investment Group.

About VanguardVanguard is one of the world's largest investment management companies. As of October 31, 2017, Vanguard managed $4.8 trillion in global assets. The firm, headquartered in Valley Forge, Pennsylvania, offers more than 376 funds to its more than 20 million investors worldwide. For more information, visit vanguard.com.

Notes:

• The changes are effective with the filing today of prospectus amendments that detail the portfolio manager assignments.
• The funds' investment philosophies, objectives, strategies, and overall portfolio management processes remain unchanged.
• All investing is subject to risk, including possible loss of principal.
• All data as of October 31, 2017, unless otherwise noted.

For more information about Vanguard funds, visit vanguard.com or call 800-523-1036 to obtain a prospectus or, if available, a summary 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.

Vanguard Marketing Corporation, Distributor.

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SOURCE Vanguard