Edinburgh of Scotland Now Sub-Advisor for Vanguard
May 26, 2008
Vanguard Group announced that it has added Edinburgh Partners Ltd. as a sub-advisor to its international value fund.
AllianceBernstein LP, Lazard Asset Management LLC and Hansberger Global Investors are to remain advisors to the Vanguard International Value Fund, which had $9.3 billion of assets under management at April 30, Vanguard announced.
Edinburgh Partners is an investment manager in Scotland that had $7.9 billion of assets under management at April 30. It uses a concentrated, low turnover, value-oriented investment approach that results in a portfolio of companies with good long-term prospects and below market price-to-earnings ratios. Vanguard of Valley Forge, Pa., has $1.3 trillion of U.S. mutual fund assets, including $390 billion in employer-sponsored retirement plans.
(c) 2008 Money Management Executive and SourceMedia, Inc. All Rights Reserved.