Deals & People August 12, 2010

Sanderson Appointed as Hartford Govt. Plans VP

The Hartford Financial Services Group has tapped Scott Sanderson as vice president, government market and client management in the Retirement Plans Group. 

Reported by

A news release said Sanderson is now responsible for sales of retirement plans to state, county and municipal employers. He will also lead The Hartford’s retirement plans retention and education teams.

Sanderson joined The Hartford in January of 2000 as the southeast regional sales manager and was promoted in January of 2004 to vice president and national sales manager of the Investment Products Division.

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Prior to joining the company, he spent six years with AM South Investments Services as a product manager and regional sales manager.  Most recently, Scott was vice president and managing director of structured products and head of sales for Hartford Life Private Placement in Legacy Holdings.

Sanderson began his career as a financial consultant and has worked as a wholesaler and sales manager.

Products August 12, 2010

Vanguard Makes Advisory Changes to Three Funds

Vanguard has announced the restructuring of the investment advisory arrangements for Vanguard Explorer Fund, Vanguard U.S. Value Fund, and Vanguard Market Neutral Fund. 

Reported by

AXA Rosenberg Investment Management LLC will no longer serve as an adviser under the new arrangements.  

According to the announcement, for the $8.9 billion Explorer Fund, the assets previously managed by AXA Rosenberg – approximately 12% of the fund – have been apportioned to several of the fund’s six remaining advisers. The fund’s current advisory team includes Granahan Investment Management, Inc.; Century Capital Management, LLC; Kalmar Investment Advisers; Wellington Management Company, LLP; Chartwell Investment Partners, L.P.; and Vanguard Quantitative Equity Group. 

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For the $492 million U.S. Value Fund, the portion previously managed by AXA Rosenberg (approximately 65% of the fund) has been directed to Vanguard Quantitative Equity Group, which now serves as the sole adviser. For the $84 million Market Neutral Fund, Vanguard Quantitative Equity Group will now serve as the sole adviser, assuming responsibility for approximately 45% of the fund previously managed by AXA Rosenberg. 

Following this change, 15 Vanguard equity funds continue to follow a multimanager approach, the announcement said. 

 

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