… selling point. A Great Macro Debate In the summer of 2002, bearish Jeremy Grantham, whose firm runs Vanguard U.S. Value VUVLX , debated Jim Oelschlager of White Oak Select Growth WOGSX. At the time, Grantham was largely thought to have won the debate …
… Equity-Income VEIPX won in every rolling 10-year period and in more than half of the five-year periods. Vanguard US Value VUVLX was undefeated in rolling 10-year periods but struggled over rolling five-year periods. Losers Vanguard …
Not a pure play on large - value stocks , as process has a momentum component and portfolio includes a sizable slug of small - and mid - cap names . Longest - serving subadvisor replaced in February 2008 . AXA Rosenberg was fired in August 2010 after hiding coding errors in firm's risk models for
… restructuring at the firm, Vanguard removed AXA Rosenberg from this fund and Vanguard Explorer VEXPX and Vanguard U.S. Value VUVLX . The quantitative equity team has had some success with a long-only version of its style at a number of Vanguard funds …
In yesterday's Mutual Fund newspaper column, syndicated columnist Chuck Jaffe reports some disturbing news that affects the management of several Vanguard active funds (the management firm in question one of two advisors for Vanguard US Value and Vanguard Market Neutral and one of seven firms handling a piece of the portfolio of Vanguard Explorer). Here's the story and the fallout from the article: In a letter dated April 15, 2010, quantitative equity manager AXA Rosenberg told clients it discovered a "coding error" that had affected the information flow between its risk model and portfolio optimization process. In simplified, plan English, that means the computer models the firm uses to run money were broken. The letter noted the problem was first discovered in late June 2009 and was corrected between September and mid-November, but senior investment officers did not report the trouble in a timely fashion. As a result, the firm's board is conducting a full review, the firms founder an chairman has taken a 30-day leave of absence and the director of the research has announced he will resign within a year. The fund also managed four active funds at Schwab, and Schwab has pulled the plug on all four of the funds, announcing that they will liquidate the funds on July 30th. Has anyone heard what the fallout has been for the Vanguard active funds that this outfit advised? Mel
… the information , " Newhall said . Vanguard has no immediate plans to replace AXA as a subadvisor on Vanguard U . S . Value VUVLX , Vanguard Explorer VEXPX , and Vanguard Market Neutral VMNFX , though that could change if a review under way by AXA turns …
… year since 2002 . ) It's as if this fund's approach went from too cool , to too hot , to too dull . Vanguard U . S . Value VUVLX After its June 2000 launch , this fund got off to a great start under subadvisor Grantham , Mayo & Van Otterloo . But in 2006 …
Less uncertainty in the markets should help this mutual fund's case.
Not a pure play on large-value stocks, as process has a momentum component and portfolio includes a sizable slug of small- and mid-cap names.New manager added to the fund in June 2007.Longest-serving subadvisor replaced in February 2008.Widely diversified portfolio should limit
… the fund is to edge past its benchmark. Here are descriptions of three of our favorite quant funds: Vanguard U.S. Value VUVLX This fund represents the cheapest way (expense ratio: 0.39%) for retail investors to gain access to the highly regarded …