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Vanguard awards Delaware Investments US growth mandate

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The Vanguard Group has awarded Delaware Investments two mandates, both to be managed by the firm’s San Francisco-based focus growth team.

Delaware Investments will sub-advise portions of the Vanguard US Growth Fund and the Vanguard Variable Insurance Funds’ growth portfolio.

"We are grateful for the trust that The Vanguard Group has placed in Delaware Investments and our focus growth team," says Patrick Coyne, president and chief executive of Delaware Investments. "We have the highest level of respect for The Vanguard Group, its staff, and its careful selection process. We look forward to serving the Funds’ shareholders and making an impactful contribution to the funds."

The team will follow its fundamental, bottom-up approach to stock picking in its management of the funds. The focus growth team typically holds between 25 and 35 stocks in which it has high conviction.

"We are pleased to add Delaware Investments to our stable of distinguished investment advisers, and look forward to the contributions that the deep, experienced Focus Growth Team will make to the Vanguard US Growth Fund," says Vanguard chief executive Bill McNabb.

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