Vanguard Ditches RS Investments

Vanguard Ditches RS Investments

Vanguard Ditches RS Investments

Vanguard is shaking up the management of its $3.1 billion Mid-Cap Growth fund, removing Victory Capital affiliate RS Investments as subadviser and transferring its portion to Frontier Capital Management.

The realignment leaves 60% of the fund in the hands of Frontier, while Wellington Management Company subadvises the other 40%.

Frontier and Wellington have been advising the fund since 2018, and RS Investments had been managing a portion of the fund since 2016.

Performance has clearly been an issue.

Mid-Cap Growth was down 26.1% over the past 12 months according to data from Morningstar, underperforming its benchmark for the past one-, three- and five-year periods.

Given that track record, a manager shake-up might not be the worst thing in the world for the fund. But we’re not convinced that this move will be enough to change Mid-Cap Growth’s trajectory.

Chart of the Week: Gas Prices Shake Off Ukraine Shock

 By Jeff DeMaso, Portfolio Manager

When Russia invaded Ukraine, oil prices rose as high as $120 per barrel. Gasoline prices followed suit. And when the cost to fuel up rises as fast as it did earlier this year, it’s impossible not to notice. Heck, prices were posted in giant type all over town.

But while the media eagerly announces the climbing cost of living in headlines, how about when prices are falling? It may surprise you to see that U.S. gasoline prices, on average, have returned to levels we saw before Russia invaded Ukraine.

 

Gas prices falling below prewar levels
Note: Chart shows weekly U.S. regular conventional retail gasoline prices (dollars per gallon) from 12/31/21 through 12/12/22. Source: Energy Information Administration.

Inflation has been a pain point all year long—for consumers and investors. At least when it comes to filling up the tank, higher prices are a thing of the past.

Podcast: The One Number You Need

From smart watches that monitor our sleep to apps that track our spending and whereabouts, it can sometimes seem like there isn’t a single second of our day that is left unexamined. Often, though, we end up floundering in that sea of data when it comes time to make a decision, especially in our financial lives.

Fortunately, there’s a simple way to find our focus. In this episode of The Adviser You Can Talk To Podcast, Andrew Busa and Jeff DeMaso each stake out their one key metric to ensure that your portfolio and your financial plan stay on track. Listen today!

Adviser Takeaways

In recent Takeaways, Wealth Adviser Diana Linn talked about the best way to give cash, while Senior Research Analyst Liz Laprade discussed the fall of FTX and the future of crypto.

We hope you find these videos engaging and accessible, and please let us know if there are any topics you’d like us to address by sending an email to info@adviserinvestments.com.

About Adviser

Adviser is a full-service wealth management firm, offering investment managementfinancial and tax planningmanaged individual bond portfolios, and 401(k) advisory services. We’ve been helping individuals, trusts, institutions and foundations since 1994. Adviser Investments and its subsidiaries have over 5,000 clients across the country and over $8 billion in assets under management. Our portfolios encompass actively managed funds, ETFs, socially responsible investments and tactical asset allocation strategies, and we’re experts on Fidelity and Vanguard mutual funds. We take pride in being The Adviser You Can Talk To. To see a full list of our awards and recognitions, click here, and for more information, please visit www.adviserinvestments.com or call 800-492-6868.


Disclaimer: This material is distributed for informational purposes only. The investment ideas and opinions contained herein should not be viewed as recommendations or personal investment advice or considered an offer to buy or sell specific securities. Our statements and opinions are subject to change at any time without notice and should be considered only as part of a diversified portfolio. Mutual funds and exchange-traded funds mentioned herein are not necessarily held in client portfolios. Data and statistics contained in this report are obtained from what we believe to be reliable sources; however, their accuracy, completeness or reliability cannot be guaranteed.

You may request a free copy of the firm’s Form ADV Part 2A, which describes, among other items, risk factors, strategies, affiliations, services offered and fees charged.

Past performance is not an indication of future returns. Tax, legal and insurance information contained herein is general in nature, is provided for informational purposes only, and should not be construed as legal or tax advice, or as advice on whether to buy or surrender any insurance products. Personalized tax advice and tax return preparation is available through a separate, written engagement agreement with Adviser Investments Tax Solutions. We do not provide legal advice, nor sell insurance products. Always consult a licensed attorney, tax professional, or licensed insurance professional regarding your specific legal or tax situation, or insurance needs.

Podcast released on December 14, 2022. This podcast is for informational purposes only. It is not intended as financial, legal, tax or insurance advice even though these topics may be discussed. Information and events addressed in this podcast, as well as the job titles, job functions and employment of the podcast’s participants with respect to Adviser Investments, LLC may have changed since this podcast was released. For more information on each individual featured in this podcast, see the Our People section of our website.

The Adviser You Can Talk To Podcast is a registered trademark of Adviser Investments, LLC.

Figures related to number of clients and assets under management are as of December 31, 2021.

For a summary of Adviser Investments’ advisory services and fiduciary responsibilities to our clients, please review our Form CRS here.

© 2022 Adviser Investments, LLC. All Rights Reserved.

Adviser Investments' logo is a registered trademark of Adviser Investments, LLC.

Podcast released on [date]. This podcast is for informational purposes only. It is not intended as financial, legal, tax or insurance advice even though these topics may be discussed. Information and events addressed in this podcast, as well as the job titles, job functions and employment of the podcast’s participants with respect to Adviser Investments, LLC may have changed since this podcast was released. Personalized tax advice and tax return preparation is available through a separate, written engagement agreement with Adviser Investments Tax Solutions..

The Adviser You Can Talk To Podcast is a trademark of Adviser Investments, LLC. Registration pending.

© 2023 Adviser Investments, LLC. All Rights Reserved.