Vanguard taps T. Rowe Price to run portions of key active equity funds

Management
โดย TheStreet·US·Read original
Summary · why it matters

Vanguard has brought T. Rowe Price Associates on board to manage portions of Vanguard Explorer, Vanguard Growth and Income, and the Vanguard Variable Insurance Fund Small Company Growth Portfolio. It is the first time T. Rowe Price has advised Vanguard, and the three funds together hold more than $42 billion in combined net assets. Vanguard removed ArrowMark Colorado Holdings from Explorer and VVIF Small Company Growth, while Los Angeles Capital Management exited Growth and Income. T. Rowe Price received individual sleeves of each portfolio, not control of the entire fund. Vanguard also adjusted Explorer's adviser allocations to increase exposure toward the growth investment style.

Impact on stocks 1

Financials▲ · 1 stocks
T. Rowe Price Group Inc
TROW
▲ PositiveCapitalrelevance

T. Rowe Price gains new mandates to manage portions of three Vanguard funds with $42B in assets.

Off-coverage companies 2

ArrowMark Colorado HoldingsPrivate▼ Negative
Capitalrelevance

ArrowMark Colorado Holdings is removed from managing two Vanguard funds.

The Vanguard Group, Inc.Private± Mixed
Capitalrelevance

Vanguard adjusts fund management, but impact on its own business is not detailed.

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