Fund files: Vanguard swaps index, Macquarie funds placed under surveillance
Vanguard changed a fund’s benchmark of $ 53.7 billion.
The $ 9 billion asset manager said in a document filed with the Securities and Exchange Commission on Monday that the Vanguard Dividend Growth fund had moved its benchmark from the Nasdaq US Dividend Achievers Select index to the S&P index. US Dividend Growers.
The sub-advised fund is managed by Donald Kilbride of Wellington Management Company, and the record does not indicate any change in his mandate.
The change is the result of a previous decision to change the benchmarks on this fund and the Vanguard Dividend Appreciation Index fund, as Vanguard moved away from the Nasdaq indices in favor of S&P DJI.
âThe new benchmark is well aligned with the fund’s investment strategy and will also ensure consistency across Vanguard’s broader range of dividend appreciation funds,â Vanguard said in a statement announcing the decision.
Macquarie director quits Morningstar review
Morningstar has placed the $ 2.5 billion Delaware Ivy International Core Equity fund under review ahead of the replacement of strategy managers, who are leaving the company.
John Maxwell, who has a Citywire + rating, and Catherine Murray are leaving the company, and Aditya Kapoor, rated AAA, and Chace Brundige, rated Citywire +, will replace them in the fund. The changes are expected to be final in November.
“From the start, we have been committed to taking a prudent and thoughtful approach to integrating our two companies,” said a spokesperson for Macquarie Asset Management, which took over the Ivy funds as part of its acquisition of Waddell & Reed Financial in April.
“While prioritizing the interests of fund shareholders, we have also considered the impact on our channel partners and advisors, focusing on minimizing disruption and ensuring a smooth transition,” said added the spokesperson.
âSenior Manager John Maxwell held this position for 15 years and worked as an analyst for the company for many years prior to that. Co-director Catherine Murray joined her team in 2014 as an analyst, before assuming her current role in early 2017, ânoted Gregg Wolper, senior analyst at Morningstar.
Macquarie, who has around $ 563.5 billion in assets under management, has not commented on Morningstar’s decision to put the fund under review.