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Vanguard Announces Advisory Changes for Two Growth Funds
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VALLEY FORGE, Pa., March 1, 2021 /PRNewswire/ Vanguard today announced plans to modify the investment advisory arrangements of the $45.5 billion Vanguard U.S. Growth Fund and $1.2 billion Vanguard Variable Insurance Funds Growth Portfolio. Jackson Square Partners, LLC will no longer serve as an advisor to the funds. The portion of the U.S. Growth portfolio formerly managed by the firm (approximately 13% of fund assets) has been equally apportioned to existing managers Jennison Associates LLC, Wellington Management Company LLP, and Baillie Gifford Overseas Ltd. Wellington Management will serve as the sole advisor to the VVIF Growth Portfolio.
Legal Entity Identifier: 213800UMIOUWXZPKE539
During the six months to 30 November 2020, the Company s share price and NAV (after deducting borrowings at fair value) returned 50.8 per cent. and 53.8 per cent. respectively. This compares with a total return of 11.1 per cent. for the S&P 500 Index (in sterling terms).
¾ Moderna, held in the Company since 2018, is one of the biotechnology companies which has been at the forefront of coronavirus vaccine development. ¾ In the energy sector, there s been an acceleration in the shift towards electric vehicles. ¾ SpaceX, a private company investment, has been innovating at a breath-taking pace. ¾ We are optimistic about what the future holds. The pace of innovation is speeding up and spreading out. This ought to be a fruitful environment for growth investors.