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View More Press Releases by Vanguard

Press release:

Vanguard Receives Retirement Leader of the Year Award

Issued by: Vanguard

Date: Apr. 10, 2015

April 9, 2015 --  In its annual mutual fund industry awards recently, the industry newsletter Fund Action named Vanguard as "Retirement Leader of the Year." Vanguard received two additional awards from Fund Action, including a lifetime achievement award for Gus Sauter, Vanguard's former chief investment officer (CIO), and one for Managing Director Martha G. King, who was recently named as incoming head of Vanguard Institutional Investor Group.

The retirement leader award honors firms that have made an impact on growing retirement assets with unique retirement solutions, marketing campaigns, and significant contributions to the retirement industry. Fund Action cited Vanguard's growth in target-date fund cash flows and assets, $55 billion and $306 billion, respectively, as of year-end 2014. /¹/  The newsletter also cited Vanguard for its defined contribution investment-only and recordkeeping businesses, Vanguard Retirement Plan Access™ 401(k) service for small businesses, and the Enroll Now™ tool for retirement plan participants.

The prestigious lifetime achievement award presented to Mr. Sauter is given annually to an individual who, over the course of a career, has been a driving force behind positive changes in the mutual fund industry.

Mr. Sauter joined Vanguard in 1987 as head of the equity investment group, where he built Vanguard's trading systems from the ground up and played a key role in establishing Vanguard as a leader in indexing. He also developed Vanguard's quantitative stock-picking strategies, which helped establish the firm's presence in the active equity market.

In 2001, Mr. Sauter became the driving force behind Vanguard's decision to launch exchange-traded funds (ETFs) as a separate share class of Vanguard's existing index funds. Today, Vanguard is the second-largest ETF firm in the United States with more than $455 billion in ETF assets. /²/   In 2003, Mr. Sauter was named as CIO, serving in that role until his retirement in 2012.

"Mr. Sauter made indexing accessible and mainstream and made sure that the methodology for constructing indexes continually improved," current Vanguard CIO Tim Buckley said. "When you look at the industry trends now, it's everything that Gus was adamant about and everything he worked on since 1987, and you've seen it change the industry."

Former Vanguard CEO John J. Brennan received Fund Action's lifetime achievement award in 2009.

Fund leader award for Martha King

Fund Action also named Ms. King, who currently leads Vanguard Financial Advisor Services™, as "Fund Leader of the Year." This award is presented to individuals who have made a significant impact on their firm or the industry as a whole though an innovative concept, directive, or product.

Ms. King began her Vanguard career in 1985 and was appointed managing director in 2012. Before joining Financial Advisor Services, she oversaw Vanguard's institutional investment-only business, headed Vanguard's Arizona operation, and led the firm's institutional sales team's efforts in the western and central regions of the United States. Under Ms. King's leadership, Financial Advisor Services has grown to represent about a third of Vanguard's total assets under management. /¹/

Vanguard recently announced that Ms. King will be assuming leadership of Vanguard Institutional Investor Group in 2015. She will take over the reins from Vanguard Managing Director Chris D. McIsaac who is moving to assume a new position leading Vanguard Planning and Development.

Fund Action's methodology for its mutual fund industry awards is based on the market intelligence gathered by its editorial staff in addition to public nominations from subscribers and the industry at large. Editors also interview industry leaders to solicit their opinions on nominees. Once the shortlist is announced, the industry has a chance to voice its support or opposition for the nominees. Awards are not based on market research, surveys, or a voting process, and winners are chosen based on a number of factors including innovation, market impact, uniqueness of approach, and how well they met criteria established by the editorial staff.

Source: Fund Action, February 2015.

/¹/  Vanguard. Data as of December 31, 2014.

/²/   Vanguard. Data as of February 28, 2015.

Notes:

  • All investments are subject to risk, including the possible loss of the money you invest.
  • Vanguard ETF® Shares are not redeemable with the issuing fund other than in very large aggregations worth millions of dollars. Instead, investors must buy and sell Vanguard ETF Shares in the secondary market with the assistance of a stockbroker. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and receive less than net asset value when selling.
  • Investments in Target Retirement Funds are subject to the risks of their underlying funds. The year in the fund refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative ones based on its target date. An investment in a Target Retirement Fund is not guaranteed at any time, including on or after the target date.
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