Vanguard Growth EquityVGEQX

Morningstar Rating

Fund Research and Analysis

by Sonya Morris, CFA

Vanguard Growth Equity is lagging now, but it could be easier to own in the future.

Vanguard rejiggered this fund's management team in early 2009, and the change is becoming evident in the portfolio. Most notably, its growth and valuation characteristics have moderated. Read more

Kudos

Subadvisors have good long-term records elsewhere.

The fund has fairly low expenses. Read more

Risks

The new subadvisors have not been on the fund for long, so it's unclear how they will mesh. Read more

Strategy

Baillie Gifford is a Scotland-based asset manager that favors leading firms with strong balance sheets who it thinks can grow earnings faster than the market. Jennison looks for firms growing revenues faster than the S&P 500 that also have defensible franchises or enduring competitive advantages. Read more

Management

Mick Brewis has been with subadvisor Baillie Gifford for more than two decades. He has managed U.S. equity funds for British and European investors since the mid-1990s. Kathleen McCarragher has more than 10 years' experience at Jennison Growth PJFAX. Read more

Inside Scoop

Vanguard added this fund to its lineup in 2000, but it's recently gone through a manager change. It's no longer the aggressive growth fund it once was. Read more

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