Business
Vanguard pulls pin on managing money for super funds – The Australian Financial Review
The Australian Financial Review can reveal that Vanguard Australia will no longer hold mandates for institutional investors like superannuation funds.
It previously launched a super fund shortly after entering the Australian market, but transferred the management of it to National Australia Bank’s MLC Wealth business in 2012.
Vanguard recalled Australian-born executive Michael Lovett from the fund manager’s regional Pennsylvania headquarters to lead the push. He has led the company’s sales accounts with independent investment advisers across the US since 2017.
It also follows the launch of Vanguard’s Personal Investor portal in April, a low …
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