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Rating:Vanguard's Decision Attracts Media Attention Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, August 13, 2010

Vanguard's Decision Attracts Media Attention

Reported by Armie Margaret Lee

Vanguard's [see profile] decision to give Axa Rosenberg the boot as sub-advisor to three mutual funds [see The MutualFundWire's coverage] was picked up by numerous media outlets including The Wall Street Journal.

Chris McIsaac, who runs Vanguard's portfolio review department, was quoted in the WSJ as saying that "there was no one issue" that triggered the move. He said Vanguard evaluates money managers on criteria such as personnel and performance, among others.

Meanwhile, an AXA Rosenberg representative told the pub that "we don't believe it's appropriate to comment on any specific client decision. We highly value the relationship we have with Vanguard and respect their choice."  

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