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Fund Times

Vanguard Hires a New Firm with an Old Name

Plus, Wells Fargo-Evergreen progress, DoubleLine hires TCW vets and files prospectus, and more.

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In an unconventional move, Vanguard has hired a firm that only recently put out its shingle to serve as the sixth subadvisor on the family's largest actively managed stock fund,  Vanguard Windsor II (VWNFX).

Sanders Capital Management, which opened its doors late last year, has started running 8.5% of the $35 billion in assets Windsor II. Vanguard usually hires managers with longer track records, but Sanders Capital is more established than it looks.

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