US/UK – Baillie Gifford has been appointed to run approximately one billon dollars in assets for the 5.4 billion dollar Vanguard International Growth Fund.

Baillie Gifford Overseas Ltd., a subsidiary of UK investment firm Baillie Gifford, will manage around 20%-25% of the 5.4 billion dollar portfolio and a similar proportion of the 210 million dollar Vanguard Variable Insurance Fund.

Previously the entire International Growth Fund was managed by Schroder Investment Management North America, which has managed the fund since its inception in 1981. Schroders will continue to manage the remaining 75-80%.

The Vanguard International Growth Fund is Vanguard’s largest and oldest international portfolio and the first of the firm’s international portfolios to employ more than one manager.

Edinburgh-based Baillie Gifford manages or advises on 30 billion dollars of assets for clients. With the new mandate, assets for North American clients now total more than eight billion dollars.

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