MutualFundWire.com: A $13.8B-AUM Shop Teams Up With the Low-Cost Leviathan

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Monday, November 2, 2020

A $13.8B-AUM Shop Teams Up With the Low-Cost Leviathan

Valley Forge, Pennsylvania-based Vanguard [profile] is adding Toronto-based Sprucegrove Investment Management to the firm's roster of active management allies. Sprucegrove currently has $13.8 billion in AUM.

Kaitlyn Caughlin
Vanguard
Principal, Head of Portfolio Review

As of October 12, Sprucegrove joined Lazard Asset Management LLC and ARGA Investment Management in subadvising the $9.8 billion Vanguard International Value Fund. Sprucegrove will manage 35 percent of the Fund, a portion that was previously overseen by Edinburgh Partners Limited. The fund's expense ratio is expected to increase one basis point to 38 bps.

"Vanguard has decades of experience in selecting and partnering with active managers. We continuously search for world-class investment talent that brings a particular expertise and experience to specific mandates," stated Kaitlyn Caughlin, head of Vanguard's portfolio review department. "We welcome Sprucegrove as a valuable addition to our talented roster of investment management partners."

Vanguard's Fund invests in companies from developed and emerging markets around the world, as well as in large-, mid-, and small-capitalization companies to diversify their assets in countries across developed and emerging markets.

27-year-old Sprucegrove is an employee-owned value asset manager.

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