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What New Management Means for Vanguard Wellington

The fund recently underwent a change in leadership. Here's what we think of the changes so far.

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An experienced team employing a quality-focused and risk-aware process, combined with low fees, underlie Vanguard Wellington’s (VWENX) (VWELX) Morningstar Analyst Rating of Gold.

Venerable Vanguard Wellington recently underwent a generational transfer of leadership. On the equity side, Daniel Pozen took over as the lead manager in July 2020 after working closely with his predecessor, Edward Bousa, since 2015 and undergoing careful vetting by both Vanguard and Wellington, the subadvisor for this fund. On the bond side, John Keogh retired in 2019 and Michael Stack retired in 2021, leaving Loren Moran in charge. She has worked closely with both since 2014. Minimal disruption is anticipated since Pozen and Moran are supported by Wellington’s well-regarded global industry analysts, credit analysts, and macro analysts. The current managers’ investment philosophies align with those of their predecessors, to boot.

Patricia Oey does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.