On Oct. 5, 2021, Michael Reckmeyer, lead equity manager on Vanguard Wellesley Income since July 2008, announced he plans to retire June 30, 2022. Matthew Hand, who has worked with Reckmeyer since 2004, will take over as sole lead equity manager upon Reckmeyer's retirement. This planned transition has been in the works for many years, as Hand has taken on more decision-making responsibilities on this strategy and has been running his own concentrated portfolio for the past two years. In addition, he has been instrumental in incorporating data science and environmental, social, and governance considerations into the investment process. At this time, we are maintaining our People rating of Above Average and our Morningstar Analyst Rating of Gold.
Vanguard Wellesley® Income Admiral™ VWIAX
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will VWIAX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable VWIAX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the VWIAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of VWIAX’s parent organization’s priorities and whether they’re in line with investors’ interests.
Equity Manager Reckmeyer Retiring, Passing Reins to Long-Tenured Associate; Maintaining Ratings
