Vanguard Group announced that it has added Edinburgh Partners Ltd. as a subadviser to its international value fund.
AllianceBernstein LP, Lazard Asset Management LLC, and Hansberger Global Investors are to remain advisers to the Vanguard International Value Fund, which had $9.3 billion of assets under management at April 30, Vanguard announced Friday.
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 in Valley Forge, Pa., has $1.3 trillion of U.S. mutual fund assets, including more than $390 billion in employer-sponsored retirement plans. Vanguard offers more than 150 funds to U.S. investors and more than 50 additional funds in non-U.S. markets.
