Vanguard Group Inc. of Valley Forge, Pa., announced that it selected two new portfolio managers to run two of its value funds.
James N. Mordy, a senior vice president and partner of Wellington Management Co. LLP of Boston, will manage the Vanguard Windsor Fund.
Wellington Management, which has advised the fund since its launch in 1958, oversees nearly two-thirds of the fund's $19.2 billion of net assets. The rest are managed by AllianceBernstein Holding LP, which has co-advised the fund since 1999.
Peter I. Higgins, a senior vice president and partner of Wellington Management, will manage the $490 million Vanguard Capital Value Fund. Wellington Management has been the fund's sole adviser since its launch in 2001.
The two funds had been managed by David R. Fassnacht, a senior vice president and partner of Wellington Management, since June 2004.
Wellington has more than $500 billion of assets under management and provides advisory services to 16 Vanguard funds and annuity portfolios.
Vanguard, which announced the portfolio management changes Monday, has more than $1.3 trillion of assets under management.