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Post by roi2020 on Mar 24, 2023 1:17:26 GMT
"Vanguard Dividend Growth VDIGX has officially begun a leadership transition, the firm announced on March 23, 2023.
Effective Jan. 1, 2024, manager Donald Kilbride will step down from the strategy’s helm, and comanager Peter Fisher will step up.
The strategy, which carried a High People rating, a High Process rating, and a Morningstar Analyst Rating of Gold, has been placed under review."
"Kilbride has no plans to separate from the firm or retire from the industry after January 2024.
He will remain on Wellington’s dividend-growth team and continue leading Vanguard Advice Select Dividend Growth VADGX,
which is a more concentrated version of this strategy available to clients enrolled in certain Vanguard advisory programs."
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Post by roi2020 on Mar 24, 2023 1:48:21 GMT
Excerpted from The Independent Vanguard Adviser :
"Since Kilbride took over the fund in Feb. 2006, he has outperformed the market with less risk and beat his in-house index competition, Dividend Appreciation Index (VDADX), to boot. To put some numbers it, since April 2006 (the launch of the index fund competitor), Dividend Growth’s 9.8% annual return was 0.9% per year better
than the 8.9% annual gains generated by both 500 Index (VFINX) and Dividend Appreciation Index.
The fund held up better than the market during the Global Financial Crisis, the COVID panic and the current bear market."
"I expect Fisher will continue the approach Kilbride took while helming Dividend Growth — this should still be a portfolio of companies that produce a steady and growing stream of dividends. It’s not about getting the highest yield, but about owning companies that pay out a larger and larger dividend with each passing year."
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Post by chang on Mar 24, 2023 14:24:54 GMT
"Vanguard Dividend Growth VDIGX has officially begun a leadership transition, the firm announced on March 23, 2023.
Effective Jan. 1, 2024, manager Donald Kilbride will step down from the strategy’s helm, and comanager Peter Fisher will step up.
The strategy, which carried a High People rating, a High Process rating, and a Morningstar Analyst Rating of Gold, has been placed under review."
"Kilbride has no plans to separate from the firm or retire from the industry after January 2024.
He will remain on Wellington’s dividend-growth team and continue leading Vanguard Advice Select Dividend Growth VADGX, which is a more concentrated version of this strategy available to clients enrolled in certain Vanguard advisory programs."
Link Ineresting: VDIGX has ER = 0.27% and holds 41 stocks. VADGX has ER = 0.45% and holds 26 stocks, probably a subset of the VDIGX portfolio. Looks like the "Advisor" clients who own VADGX are actually getting screwed. |
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Post by anovice on Mar 24, 2023 15:13:28 GMT
"Vanguard Dividend Growth VDIGX has officially begun a leadership transition, the firm announced on March 23, 2023.
Effective Jan. 1, 2024, manager Donald Kilbride will step down from the strategy’s helm, and comanager Peter Fisher will step up.
The strategy, which carried a High People rating, a High Process rating, and a Morningstar Analyst Rating of Gold, has been placed under review."
"Kilbride has no plans to separate from the firm or retire from the industry after January 2024.
He will remain on Wellington’s dividend-growth team and continue leading Vanguard Advice Select Dividend Growth VADGX, which is a more concentrated version of this strategy available to clients enrolled in certain Vanguard advisory programs."
Link Ineresting: VDIGX has ER = 0.27% and holds 41 stocks. VADGX has ER = 0.45% and holds 26 stocks, probably a subset of the VDIGX portfolio. Looks like the "Advisor" clients who own VADGX are actually getting screwed. No, because the clients in VADGX are getting Kilbride's "best" ideas. |
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Post by yogibearbull on Mar 25, 2023 14:18:46 GMT
See LINKKilbride may be around 60 - not that old. He has high positions at Wellington Management (WM) - Partner, Managing Director (MD), portfolio manager. Vanguard has setup a smaller, similar and more concentrated fund for him - VADGX, AUM $318.1 million, ER 0.45%, only 28 holdings (vs 41 for VDIGX), inception 11/9/21. It's advisor-only fund and Schwab shows as NA and it isn't part of Fido NTF (so, no competition with VDIGX). It seems to me that Kilbride will be around Wellington Management handling VADGX, helping Fisher, and may be other even higher things at WM. It doesn't look like he is moving into a retirement community. |
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Post by zdawg on Mar 25, 2023 17:05:04 GMT
VDIGX is one of my core holdings in my IRA. Wellington has had a good long-term reputation with several funds over the years, and Killbride's replacement appears to have been associated with the fund under Killbride's leadership. The announcement introduces the question of whether I should hold on to the fund and see how the new management performs or start looking for a replacement. Any viewpoints would be appreciated.
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Post by roi2020 on Mar 26, 2023 4:04:04 GMT
Don Kilbride is a talented fund manager.
Although he is stepping down from VDIGX, he will remain on Wellington's dividend-growth team.
Peter Fisher worked closely with Mr. Kilbride for more than a decade.
AFAIK, two dedicated dividend-growth analysts will still support Mr. Fischer.
He can also access Wellington's broader (and deep) analyst pool.
I'm not too concerned about this manager transition.
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