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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.
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Adjusted Q4 EBITDA increased 27% year-over-year, driven by growth in both management and performance fee EBITDA contribution
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Repurchased 10% of shares outstanding across the full year 2020, including $226 million in shares during Q4
WEST PALM BEACH, Fla., Feb. 08, 2021 (GLOBE NEWSWIRE) Affiliated Managers Group, Inc. (NYSE: AMG) today reported its financial and operating results for the fourth quarter and full year 2020.
Jay C. Horgen, President and Chief Executive Officer of AMG, said: “AMG reported Adjusted EBITDA of $255 million in the fourth quarter; the year-over-year growth of 27% reflects strong investment performance from our Affiliates across a broad array of alpha-oriented strategies, along with the positive impact of strategic investments and actions to reposition the business for growth. Business momentum and net client cash flows were particularly strong in private markets, wealth management, and specialty fixed income during the q