Vanguard hired Wellington Management as a subadviser to the $2 billion Vanguard International Explorer fund, which is adopting a multimanager structure, confirmed Vanguard spokeswoman Linda Wolohan.
Wellington joins Schroder Investment Management North America, which has advised the international small-cap growth mutual fund since its inception in 1996.
Simon H. Thomas, who has worked on Wellington’s international small-cap equity team since 2002, will oversee Wellington’s portion of the fund and will manage a four-person investment team.
“The team’s philosophy is based on the belief that global equity markets are inefficient, and it aims to exploit these inefficiencies through active stock selection,” according to a news release.
