Is your fund's performance hurting? Then fire the fund manager, Barrons'
Brendan Conway writes.
of Independent Adviser for Vanguard
] argues it was a wise move for Vanguard to drop Alliance Bernstein
] , Conway writes, in part because the proof is in the pudding. Since the decision, Vanguard Windsor Fund
is up 20 percent for the year in comparison to Vanguard Value Index, which is up 18 percent.
Conway quoted Wiener as stating, "A year ago I wrote I really haven't been a fan of International Value for some time and remained a bit skeptical given the paucity of information I was able to find on ARGA's track record. That being said, it has definitely improved on a relative basis since the manager musical chairs came to an end."
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