Lazard will manage a portion of the Vanguard Windsor II Fund's $48.6 billion in assets; Mr. Demming could not confirm Lazard's amount. Lazard is replacing Equinox Capital Management and Tukman Capital Management, which each managed approximately 20% of the fund's assets. Mr. Demming said both terminations were performance-related. either Wendy Lee, CEO of Equinox, nor Daniel Grossman, vice president at Tukman, was available for comment at press time.
Jennison will run a portion of the $240 million cash portfolio for the $7.5 billion Vanguard Morgan Growth Fund. Mr. Demming was not able to disclose the amount. The assets had been managed by Vanguard.
(updated with correction)