Vanguard US Growth & Growth and Income - Subadvisor Change

[roi2020]

"Vanguard has dropped its quantitative equity team as a subadvisor on the $34.4bn Vanguard US Growth fund and $11.5bn Vanguard Growth and Income fund."

"On the US Growth fund, no new subadvisor has been added alongside Baillie Gifford, Jennison Associates and Wellington Management Company,
but the latter firm will now run more of the fund’s assets as a result of Vanguard removing itself."

"Wellington has also been added as a subadvisor on the Growth and Income fund, joining existing subadvisors D.E. Shaw Investment Management
and Los Angeles Capital Management."

citywire.com/pro-buyer/news/vanguard-drops-itself-for-wellington-on-two-active-funds-raises-fees/a2417956

[yogibearbull]

Vanguard Quantitative Group is small - only 2-3 dozen total employees. It manages alternatives, factor-based ETFs, some non-VG funds, and when needed, portions of some VG mutual funds. At some point, VG has to decide whether to expand it or use its outside subadvisor model. I am sure VG won't fire itself unless it decides to make a change itself.

[roi2020]

The Vanguard Quantitative Equity Group will still manage (partially or entirely) 5 active funds.
Link

A number of Vanguard funds have "too many cooks in the kitchen."

Vanguard had 10 active funds with 3 or more subadvisors as of 03/31/2023.
Link

Excluding Vanguard (Fixed Income Group and Quantitative Equity Group),
these are the only firms which manage 100% of any active Vanguard funds:
Wellington Management, Primecap Management, Baillie Gifford Overseas,

and Ninety One North America (newer ESG fund).