Vanguard Taps RS
Investments to Manage Mid-Cap Growth Fund
The RS Investments team of Victory Capital Management will oversee
Vanguard’s $4.1 billion Mid-Cap Growth Fund. The firm will manage 50% of the
fund previously managed by Chartwell Investment Partners.
The RS Investments team utilizes a bottom-up stock research and
selection process. Its investment strategy is rooted in deep analysis to
identify the drivers of sustainable, long-term growth. Scott Tracy, CFA, chief
investment officer of the eight-person RS Investments Growth Team, will serve
as co-portfolio manager along with Steve Bishop, Melissa Chadwick-Dunn, and
Chris Clark, CFA.
RS Investments adds to Vanguard’s roster of external investment
advisory firms, which now total 30.
“Vanguard has a meaningful legacy in the world of active
management, stretching back to the 1929 launch of the Wellington Fund,” says
Vanguard CEO Bill McNabb. “We seek to select and retain the industry’s leading
investment firms and we welcome the addition of Victory’s RS Investments team
as a complement to our deep and broad roster of active managers.”
The investment objectives and principal investment strategies of
the Mid-Cap Growth fund will remain the same, and Vanguard says it does not
expect the expense ratio to be affected by the changes.
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