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Vanguard names new advisor for two equity funds

Investment management firm Vanguard has named Baillie Gifford Overseas as an advisor to the $6.9 billion Vanguard Global Equity Fund and the $980 million Vanguard Growth Equity Fund.

Baillie Gifford joins current Global Equity Fund advisors Acadian Asset Management, AllianceBernstein and Marathon Asset Management. Baillie Gifford has teamed with Turner Investment Partners in the management of the Growth Equity Fund.

Baillie Gifford has advised portions of the $18.4 billion Vanguard International Growth Fund and the $1.9 billion International Portfolio of the Vanguard Variable Insurance Fund since 2003.

John Brennan, chairman and CEO of Vanguard, said: Baillie Gifford’s deep management team, research expertise, and experience make it an ideal advisor for these funds. The firm’s investment strategy will augment those of our existing advisors and benefit the funds through diversity in approach.