Vanguard Health Fund Manager to Retire

Edwards Ownes, the long time Portfolio Manager of Tredyffrin-based Vanguard's Health Care Fund says he will retire at the end of the year.

The announcement came Wednesday afternoon in a press release from Vanguard.

Mr. Owens, a senior vice president and partner of Wellington Management Company LLP, has managed the Health Care Fund since its inception in 1984 and is Vanguard’s longest-tenured external portfolio manager. The fund is the largest fund in the global health/biotech category with $22.4 billion in assets and the second largest sector fund in the mutual fund industry behind the $27.3 billion Vanguard REIT Index Fund (source: Lipper Inc.).

Associate portfolio manager Jean M. Hynes, CFA, will assume managerial responsibility of the fund upon Mr. Owens’ retirement. Ms. Hynes, senior vice president and partner at Wellington Management, joined the firm in 1991 and has served on the Health Care Fund management team for nearly 20 years. She was named associate portfolio manager in 2008.

“Ed’s long-term track record of excellent returns puts him in very select company in the investment management business. We are indebted to him for his decades of distinguished service to our clients,” said Vanguard CEO Bill McNabb.  “Ed’s long-time colleague, Jean Hynes, is a well-qualified successor and speaks to the deep and talented team of investment professionals at the Wellington organization.”