] 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
, 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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