VALLEY FORGE, PA — Vanguard has announced a significant leadership change within its Vanguard Health Care Fund. Jean Hynes will step down as co-portfolio manager of the fund in January 2025. She will continue her role as CEO and Managing Partner of Wellington Management. Rebecca Sykes, CFA, who has been with Wellington Management since 2007 and served as co-portfolio manager since May 2023, will become the sole portfolio manager. This transition is part of a long-term succession plan to ensure continuity for investors.
Ms. Hynes has had a distinguished 33-year career at Wellington Management, focusing on the health care sector. She has managed the Health Care Fund since 2008, during which the fund has outperformed its benchmark by more than 1.6% annually. Under her leadership, fund assets have grown from $23 billion to $48 billion as of June 30, 2024. Hynes will remain a resource for Ms. Sykes and the Wellington Health Care Team.
“Jean is a widely respected and incredibly talented leader and investor with deep knowledge of the health care sector built over decades,” said Karin Risi, managing director of Strategy, Product, Marketing and Communications at Vanguard. “Vanguard is indebted to Jean for all she’s done—and continues to do—for our clients, including the fund’s impressive performance under her leadership and her strong commitment to developing a highly skilled and experienced team of health care investors. We have full confidence in Rebecca as she steps up to be the sole portfolio manager of Vanguard Health Care Fund.”
Ms. Sykes joined Wellington Management in 2007 and has been a significant part of the Health Care Team. She is a Global Industry Analyst and health care portfolio manager and leads Wellington’s 15-person Health Care sector research team. Sykes holds an M.B.A. from the Wharton School and a B.S. in economics, finance, and healthcare management from the University of Pennsylvania.
“The Vanguard Health Care Fund has such an amazing legacy, going back to 1984 with original portfolio manager Edward Owens, who was a legendary investor, a mentor to me, and a visionary leader of our Health Care Team,” said Ms. Hynes. “I am confident that the fund’s shareholders are in good hands with Rebecca Sykes at the helm. She is an experienced and extremely skilled investor and a great example of the depth of Wellington Management’s investment talent. I’m excited to see her take over as the fund’s lead portfolio manager.”
Throughout her tenure at Wellington, Hynes has covered pharmaceutical and biotechnology sectors, led the Health Care Team, and served as CEO since 2021. She is the first female CEO in the firm’s history and has received several industry accolades, including Barron’s 100 Most Influential Women in U.S. Finance for the last five years and Morningstar’s Top Female Fund Managers of 2024.
This planned transition underscores Vanguard’s commitment to maintaining a stable and effective leadership team for its investors.
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