The
Vanguard Windsor Fund reopened to new shareholder accounts today after being closed for more than ten years. In addition, as announced on March 25, 1999, Windsor Fund will now be managed on a multi-manager basis.
The majority of Vanguard Windsor Fund's $18.4 billion in assets will
continue to be managed by Wellington Management Company, which has served as the Fund's investment adviser since its inception in 1958. Sanford C. Bernstein & Co., Inc., has been added as an advisor and will oversee the balance of the Fund's assets.
"The addition of Sanford Bernstein brings increased diversity in both
holdings and investment thinking, along with additional capacity that enables us to reopen the Fund. At the same time, Windsor Fund's distinct, value-oriented character remains intact," said Vanguard chairman and ceo
John J. Brennan in a prepared statement.
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