Those wanting in one the Vanguard Global Equity Fund are got another chance on Friday. The Valley Forge-based fund firm said it is reopening the fund (it had been closed for 10 months) after finding an additional subadvisor to handle new assets coming into the $965 million fund.

Acadian Asset Management won the mandate to act as a subadvisor to the fund. The fund has been subadvised solely by London-based Marathon Asset Management since its inception in 1995. Vanguard initially closed the fund last December.

Acadian will begin managing roughly 5 percent of the fund's existing assets, or about $50 million, according to Vanguard. It will oversee the investment of most of the net new cash flow into the fund.

Vanguard officials pointed to Acadian's "sophisticated analytical models for stock selection as well as for country, sector, and currency valuations," as reasons for its selection. Acadian also uses a proprietary database covering over 20,000 securities in more than 40 equity markets worldwide.

"The multi-manager approach brings together the fundamentally oriented Marathon and the quantitatively driven Acadian - a combination that we believe will serve investors well over the long term," said Vanguard Chairman John J. Brennan. "The addition of Acadian enables us to build a deeper management team and a more diversified fund, while retaining the fund's character as a global equity offering that invests across developed and emerging markets countries."

John R. Chisholm, executive vice president and co-CIO, Ronald D. Frashure, president and co-CIO; and Brian K. Wolahan, senior vice president and director of Research for Acadian will team-manage the portfolio for Vanguard.  

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