Vanguard Group hired Wellington Management as the subadviser for its new international equity fund, which will expand the firm's lineup of actively managed mutual funds and exchange-traded funds, a Vanguard spokeswoman said Tuesday.
Vanguard International Core Stock Fund is a core equity mutual fund with active exposure to developed and emerging markets. The international fund has expense ratios of 0.35% and 0.45% for Admiral and Investor shares, respectively, the spokeswoman confirmed.
Wellington portfolio managers Kenneth L. Abrams and F. Halsey Morris, both senior managing directors at the firm, will manage the fund, according to a Vanguard news release.
The fund, which opened for investment Tuesday, joins more than 70 mutual funds and ETFs at Vanguard that are actively managed, the spokeswoman said.
In March, Vanguard announced that Wellington would serve as the subadviser for its first actively managed environmental, social and governance fund, the Vanguard Global ESG Select Stock Fund, which launched in June and had $70 million in total net assets as of Aug. 31.
Wellington subavised $371 billion in assets for Vanguard as of June 30, the Vanguard spokeswoman said.
Wellington did not immediately respond to a request for comment.
