Vanguard to Open Global Equity Fund to New Investors

October 21, 2004 ( - After a ten-month closing, the Vanguard Global Equity Fund has reopened to new investors, with the adoption of a multi-manager structure for the fund.

The board of trustees for Vanguard has added Acadian Asset Management Inc. to the investment advisory team, according to a press release. Acadian, which is Boston based, specializes in quantitative international equity strategies. Marathon Asset Management of London has managed the fund since its 1995 inception.

Acadian will manage around 5% of the fund’s existing assets, and a majority of the new cash flow will be given to Acadian to manage. The firm uses a proprietary database to select stocks in different countries, sectors, and currency valuations. Acadian was founded in 1986 and has $8.7 billion in assets under management. Managers who will be involved with the Vanguard fund will be Executive VP John Chisholm, President Ronald Frashure, and Senior VP Brian Wolahan.

The $965 million fund closed to new accounts in December of last year. It will be open to new accounts effective Friday. Vanguard ( ), the Pennsylvanian mutual fund firm, does not expect any capital gains to be distributed to shareholders as a result of the broadening of the fund’s investment advisory team.