Vanguard Group hired Baillie Gifford Overseas as a subadviser to the $6.9 billion Vanguard Global Equity and $980 million Vanguard Growth Equity funds, said Amy Chain, Vanguard spokeswoman. Charles Plowden, a senior partner and chief of investment staff at Baillie Gifford, will lead the team managing the firms portion of the global equity fund; Mick Brewis, a partner on the firms investment policy committee, will manage Baillie Giffords share of the growth equity fund.
Acadian Asset Management, AllianceBernstein and Marathon Asset Management are the other subadvisers to Vanguards global equity fund, and Turner Investment Partners subadvises the growth equity fund. Ms. Chain would not say how much of each fund the managers would now run.
Baillie Gifford advises on two other Vanguard funds, the $18.4 billion International Growth fund and the $1.9 billion international portfolio of the Vanguard Variable Insurance fund.