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Fund Times

Vanguard Fires AllianceBernstein at U.S. Growth Fund

Plus, Ivy Asset Strategy outed as flash crash culprit, and more

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Vanguard finally decided it was time to intervene at the woeful  Vanguard U.S. Growth  (VWUSX).

In an effort to turn around more than a decade of futility, Vanguard has replaced  AllianceBernstein (AB), one of the two subadvisors of U.S. Growth, the family's worst-performing equity fund over the trailing 10- and 15-year periods ended Oct. 6, 2010. While the other subadvisor, William Blair & Company, remains, the manager assigned to that firm's portion of the fund is changing, too.

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