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 firm’s portion of the global equity fund; Mick Brewis, a partner on the firm’s investment policy committee, will manage Baillie Gifford’s share of the growth equity fund.
Acadian Asset Management, AllianceBernstein and Marathon Asset Management are the other subadvisers to Vanguard’s 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.
