Vanguard has appointed T. Rowe Price as an advisor to three of its active equity funds, expanding the firm's institutional footprint. The mandate shifts sub-advisory roles away from ArrowMark Colorado and Los Angeles Capital, bringing in two T. Rowe Price investment teams focused on small and mid cap growth and selection-driven returns within a risk-aware framework. The move strengthens collaboration between the two large fund providers in active equity management, though it does not directly address structural headwinds from fee compression and competition from passive products. Slight fee increases on two of the funds remain within a tight range, suggesting Vanguard and its boards still prioritize overall cost.
T. Rowe Price Group IncAppointed as advisor to three Vanguard active equity funds, expanding institutional footprint and winning new mandates.
Lost sub-advisory roles on three Vanguard funds to T. Rowe Price.