Investments

Vanguard strengthens Explorer Fund advisory team

Vanguard has added Arrowpoint Partners to the advisory team of the USD12.4 billion Vanguard Explorer Fund.

This is the first Vanguard mandate for Arrowpoint, a Denver-based investment advisory firm with nearly USD6 billion under management.
 
“Arrowpoint conducts in-depth, fundamental research to uncover companies that have the potential to control their own economic destiny,” says Bill McNabb, Vanguard’s CEO. “The firm features a talented and experienced investment team that emphasises minimising downside risk, while taking a long-term view.”
 
Chad Meade and Brian Schaub will serve as portfolio managers. Schaub and Meade have worked together for more than 12 years. Prior to joining Arrowpoint in 2013, the two worked at Janus Capital Group as investment analysts before managing the Janus Triton Fund in 2006 and the Janus Venture Fund in 2010.
 
“Adding Arrowpoint gives investors in the Explorer Fund access to eight complementary, institutional-quality investors at a low cost,” McNabb says. “Vanguard believes this multi-manager approach can deliver top performance while reducing overall risk.”
 
A small portion of the Explorer Fund’s assets previously managed by other advisors has been allocated to Arrowpoint; the addition is not expected to substantially change the fund’s character. The approximate allocation of manager assets is now: Wellington Management Company, 32 per cent; Kalmar Investment Advisers, 23 per cent; Granahan Investment Management, 17 per cent; Century Capital Management, seven per cent; Chartwell Investment Partners, seven per cent; Stephens Investment Management Group, six per cent; Vanguard Equity Investment Group, four per cent; and Arrowpoint, four per cent.
 
Seventeen of Vanguard’s actively managed US-domiciled equity funds currently employ the multi-manager approach. 

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