MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, June 22, 2001 Vanguard Switches a Fund Advisor Effective today, Vanguard has appointed Alliance Capital Management as investment adviser for the US Growth Fund, dropping Lincoln Capital Management. Chicago-based Lincoln Capital Management has served as the fund's advisor since 1987. The fund has assets under management of $12 billion. "We believe that the team at Alliance is well structured to serve the fund's shareholders in the future," said John Brennan, chief executive officer, in a statement. "It's interesting," said industry consultant Geoff Bobroff, explaining Vanguard's reluctance to work with other competitors in the fund industry. "This is the second relationship that Vanguard has with the Alliance organization." "I have to assume it was investment-related," said Bobroff, when asked to speculated on the reasons for Lincoln's dismissal. The fund will continue to hold its long-term focus on quality growth stocks with an emphasis on large-capitalization issues. John Blundin and Christopher Toub of Alliance's Disciplined Growth team will serve as the fund's portfolio managers. Vanguard manages approximately $570 billion in U.S. mutual fund assets. Alliance oversees approximately $433 billion in net assets. Printed from: MFWire.com/story.asp?s=26927 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |