Pamela Wisehaupt Tynan, a long-tenured municipal bond fund manager in Vanguard’s Fixed Income Group, is to retire at the end of February 2016.
Tynan has managed the USD17.3 billion Vanguard Tax-Exempt Money Market Fund and the USD12.4 billion Vanguard Short-Term Tax-Exempt Fund since 1988 and 1996, respectively. As principal and head of the short-term municipal team within Vanguard Fixed Income Group, Tynan has oversight management responsibility for all 6 tax-exempt money market portfolios, municipal bond fund cash reserves, Vanguard Short-Term Tax-Exempt Fund, and Vanguard Municipal Cash Management Fund, representing approximately USD52 billion in assets. She joined Vanguard in 1982 and has spent more than 25 years in fixed income management.
“Pam was a pioneer in building our municipal bond fund capabilities and the broader fixed income management function at Vanguard. She has not only successfully served as a fund manager for more than two decades, but she has also developed a deep and talented team of portfolio managers and traders to oversee Vanguard’s tax-exempt money market funds,” says Greg Davis, Global Head of Vanguard Fixed Income Group. “We are grateful to Pam for her service and dedication to our shareholders for the last 34 years.”
Upon Tynan’s retirement in February, Justin Schwartz will assume portfolio management responsibility for Vanguard Tax-Exempt Money Market Fund and Vanguard Short-Term Tax-Exempt Fund. The funds’ investment policies, objectives, and fundamental strategies will remain the same. In addition, Schwartz will assume oversight responsibility for the short-term municipal team.
Schwartz joined Vanguard in 2004 and currently manages the USD2.2 billion Vanguard New York Tax-Exempt Money Market Fund and USD2.1 billion Pennsylvania Tax-Exempt Money Market Fund. As a member of the tax-exempt municipal team, Schwartz has worked closely with Tynan since 2005. He graduated with a BS in finance and marketing from the University of Richmond’s Robins School of Business and is a CFA Charterholder.
