About active
Our approach to active fund management
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Actively managed funds aren’t new to us…
Actively managed funds have been a significant part of our history going back to our start in 1975. In fact, our first 11 mutual funds in the U.S. were actively managed.
…and they’ve been quietly growing
The numbers tell the story of how we've become one of the largest managers of actively managed funds in the world. Today, we manage more than $1.5 trillion USD globally in active assets.*
The keys to successful active management
We believe that successful active management is driven by a combination of top talent, low costs, and patience. This conviction, coupled with our rigorous manager selection and oversight process, has produced impressive long-term results.
- Talent: Carefully select managers with a proven process and demonstrable ability
- Low costs: Don't let high fees destroy fund performance
- Patience: Accept that there will be periods of underperformance
What makes Vanguards active approach different
Unique ownership structure and global scale. Together, these attributes allow us to lower costs to help our investors earn more over time.
Integrated, multi-level search and oversight. Our CEO-led process relies on input from our Portfolio Review Department, Global Investment Committee and board of directors.
A focus on drivers, not outcomes. We look beyond short-term performance, aiming to assess the true, sustainable drivers of long-term outperformance.
Multi-advisor structure. Pairing advisors with different but complementary styles provides diversity of thought and helps us mitigate volatility.
Loyal relationships. When we hire sub-advisors, we seek partnerships that will last for decades. Our equity sub-advisors have an average tenure of 14 years with us.
Our approach to active fund management
We're one of the world's largest active managers, with $1.5 trillion USD in active funds under management.* Vanguard active funds are managed by a combination of in-house teams and a variety of external sub-advisors. We use this multi-advisor approach to help reduce volatility and deliver a more predictable pattern of returns. All of our fund managers—in-house and external—are held to the rigorous standards of the manager selection and oversight process that we've refined over more than 40 years. Learn more about our active approach.
Vanguard Global Equity Fund (VIC600)
This fund seeks to provide long-term capital appreciation by investing primarily in equity securities of companies located anywhere around the world. The fund's sub-advisors are Baillie Gifford Overseas Limited, Wellington Management Canada ULC, and Pzena Investment Management, LLC.
Management fee3 |
Risk rating |
Net assets* |
|---|---|---|
0.55% |
Medium |
$27 M |
Vanguard Global Credit Bond Fund (VIC500)
This fund seeks to provide a moderate and sustainable level of current income by investing primarily in non-government fixed income securities of issuers located anywhere in the world. The fund's sub-advisor is Vanguard Global Advisers, LLC – Fixed Income Group.
Management fee3 |
Risk rating |
Net assets* |
|---|---|---|
0.40% |
Low |
$29 M |
Vanguard International Growth Fund (VIC400)
This fund seeks to provide long-term capital appreciation by investing primarily in the stocks of high-quality companies located outside Canada and the United States. The fund's sub-advisors are Baillie Gifford Overseas Ltd. and Schroder Investment Management North America Inc. and Vanguard Global Advisers, LLC.
Management fee3 |
Risk rating |
Net assets* |
|---|---|---|
0.40% |
Medium |
$448 M |
Vanguard Windsor U.S. Value Fund (VIC300)
This fund seeks to provide long-term capital appreciation and income by investing primarily in value-oriented U.S. equities. The fund's sub-advisors are Wellington Management Canada ULC, Pzena Investment Management, LLC, and Vanguard Global Advisers, LLC.
Management fee3 |
Risk rating |
Net assets* |
|---|---|---|
0.36% |
Medium |
$63 M |
Vanguard Global Dividend Fund (VIC200)
This fund seeks to provide an above-average level of current income together with long-term capital growth by investing primarily in dividend-paying equity securities of companies located anywhere in the world. The fund's sub-advisors are Wellington Management Canada ULC and Vanguard Global Advisers, LLC (Quantitative Equity Group).
Management fee3 |
Risk rating |
Net assets* |
|---|---|---|
0.30% |
Medium |
$17 M |
Vanguard Global Balanced Fund (VIC100)
This fund seeks to provide long-term capital growth and some current income by investing in equity and fixed income securities of issuers located anywhere in the world. The fund's sub-advisor is Wellington Management Canada ULC (with separate teams for equity and fixed income).
Management fee3 |
Risk rating |
Net assets* |
|---|---|---|
0.34% |
Low to medium |
$119 M |
* Data as of January 31, 2022.
1 Of Vanguard's actively managed multi-advisor funds, 83% outperformed their Lipper peer-group averages for the ten-year period ending December 31, 2020. Includes U.S.-domiciled funds only. Source: Lipper, a Thomson Reuters Company.
2 Source: Vanguard Assets as of July 31, 2022.
3 For all funds, the management fee is equal to the fee paid by the fund to Vanguard Investments Canada Inc. to manage the fund and does not include applicable taxes or other fees and expenses of the fund. For any fund which invests in underlying Vanguard fund(s), there shall be no duplication of management fees chargeable in connection with the Vanguard fund and its investment in the Vanguard fund(s). For VIC 100, VIC 200, VIC 300, VIC 400 and VIC 600 only, the management fee shown is the annualized management fee charged to the fund from April 1, 2021 to March 31, 2022. It is calculated by dividing the total of the expenses to manage the fund by the total (average) assets of the fund for the period. The management fee includes a variable management fee waiver adjustment based on the performance of the fund’s sub-advisors. As a result of the management fee waiver adjustment, the management fee for these funds may increase or decrease, but will not exceed 0.50% for VIC 100, VIC 200, VIC 300, VIC 400 and 0.55% for VIC 600. Please see the fund’s prospectus for detailed information on the management fees and the management fee waiver adjustment, as applicable.
Commissions, management fees, and expenses all may be associated with investment funds. Investment objectives, risks, fees, expenses, and other important information are contained in the prospectus; please read it before investing. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated. Vanguard funds are managed by Vanguard Investments Canada Inc. and are available across Canada through registered dealers.
This material is for informational purposes only. This material is not intended to be relied upon as research, investment, or tax advice and is not an implied or express recommendation, offer or solicitation to buy or sell any security or to adopt any particular investment or portfolio strategy. Any views and opinions expressed do not take into account the particular investment objectives, needs, restrictions and circumstances of a specific investor and, thus, should not be used as the basis of any specific investment recommendation. Investors should consult a financial and/or tax advisor for financial and/or tax information applicable to their specific situation.
All investment funds, including those that seek to track an index are subject to risk, including the possible loss of principal. Diversification does not ensure a profit or protect against a loss in a declining market. While the Vanguard ETFs are designed to be as diversified as the original indices they seek to track and can provide greater diversification than an individual investor may achieve independently, any given ETF may not be a diversified investment.
All monetary figures are expressed in Canadian dollars unless otherwise noted.