Earl McEvoy, who will retire in June, contributed to solid records at all three funds in his charge. He's managed the bond portion of Wellesley Income (symbol VWINX), a $13 billion fund that typically keeps 60% of its assets in bonds and the rest in stocks, since 1982. From his start through February 22, the fund returned 11.1% annualized.
Performance at McEvoy's other two funds has been solid as well. Vanguard High-Yield Corporate (VWEHX), which he has managed since 1984, returned 6.5% annualized over the past 15 years through February 22, beating 75% of all junk-bond funds. Meanwhile, Vanguard Long-Term Investment Grade (VWESX), which McEvoy has managed since 1994, beat 70% of its peers over the past ten years, returning 5.9% annualized.
McEvoy works for Wellington which manages Vanguard funds.
A clean sweep is coming to Wellesley. Like McEvoy, Jack Ryan, who picks the fund's stocks, is scheduled to depart in June.
Vanguard does not forsee any problems. "We have a really long-term planning process around succession," says Vanguard's Joe Brennan, who oversees the company's relationship with external advisers.
http://www.kiplinger.com/columns/fundwatch/archive/2008/fundwatch0225.htm
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