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Vanguard Awards Advisory Mandate To Desim
Vanguard Group has awarded a mandate to assume investment advisory responsibilities for a part of its $4.3 billion Growth and Income Fund to DE Shaw Investment Management.
Vanguard Grouphas awarded a mandate to assume investment advisory responsibilities for a part of its $4.3 billionGrowth and Income FundtoDE Shaw Investment Management(Desim). Desim is theDE Shaw Group’s institutional asset management business. The fund will now be using the services of three advisers.
Each adviser will use computer models to pick a diversified group of stocks that possesses investment characteristics similar to those of theS&P 500 Indexbut attempt to give a higher return than the index. Desim, established in 2005, now manages more than $6 billion in investment capital including this new advisory mandate.
Click here for the release fromBusiness Wire.