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.