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Vanguard Windsor™ II Admiral™ VWNAX

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Manager Addition at Vanguard Windsor II, Ratings Unchanged

Strategist

Analyst Note

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Vanguard has named H. Ross Seiden of subadvisor Lazard as a comanager of Vanguard Windsor II alongside colleague Andrew Lacey, who remains the lead of Lazard’s sleeve. Seiden’s appointment does not represent a change as much as official recognition of a position Seiden has had for years. Thus, the fund’s two share classes retain their Morningstar Analyst Ratings of Bronze.

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