Vanguard Replaces Hansberger as Fund Sub-Adviser

Lazard Asset Management, Edinburgh Partners Ltd. and ARGA Investment Management replace Hansberger Global Investors as sub-adviser to the Vanguard International Value Fund.

“After careful evaluation, we determined that the new investment advisory arrangement will better serve shareholders over the long term,” said Vanguard Chief Executive Bill McNabb. “We thank Hansberger and its investment professionals for their dedication and commitment to our shareholders over the last 12 years.”

Lazard will manage 39% of the fund’s assets, Edinburgh 34% and ARGA 24%, with the remaining 3% of the fund’s assets in cash.

With the new arrangement, the Vanguard International Value Fund joins 20 other Vanguard funds that employ a multi-manager strategy.