VALLEY FORGE, PA — Vanguard has restructured the investment advisory arrangements for its $1.3 billion* International Explorer Fund, reallocating assets previously managed by Baillie Gifford to Wellington Management Company LLP. The fund will now be overseen by Wellington Management and Schroder Investment Management North America Inc., with target allocations set at 60% and 40%, respectively.
The adjustment follows a thorough evaluation by the fund’s Board of Trustees, which assessed factors such as investment performance, team strength, and management philosophy. The Board determined that the revised structure will better serve shareholder interests.
The fund’s expense ratio will increase slightly from 0.44% to 0.45% as a result of the reallocation but will remain among the lowest in its Morningstar peer group. Importantly, the fund’s investment objective, strategies, and policies will not change under the updated arrangement.
This reorganization aims to further strengthen the fund’s ability to provide consistent long-term returns while managing risk for shareholders.
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