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Vanguard makes manager assignments for municipal bond funds


Vanguard has reassigned portfolio management responsibilities for five funds, effective 28 June.

James D’Arcy has assumed responsibility for the USD38.6bn Vanguard Intermediate-Term Tax-Exempt Fund and the municipal bond portion of Vanguard Tax-Managed Balanced Fund.
Mathew M Kiselak and Adam M Ferguson have been named co-managers of the USD3.4bn Vanguard New York Long-Term Tax-Exempt Fund. Kiselak has also assumed responsibility for the USD2.1bn Vanguard New Jersey Long-Term Tax-Exempt Fund.
These four funds were managed by Michael Kobs, who has departed the firm.
In addition, Ferguson has been named co-manager of the USD7.2bn Vanguard California Intermediate-Term Tax-Exempt Fund. D’Arcy had been the sole manager of the fund.

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