Vanguard announces further transitions in its investment leadership team. The firm recently announced the following changes to its portfolio management and investment strategy group:
Will VEMAX outperform in future?
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The Process Pillar is our assessment of how sensible, clearly defined, and repeatable VEMAX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the VEMAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of VEMAX’s parent organization’s priorities and whether they’re in line with investors’ interests.