Vanguard announced today that Graham E. French, portfolio manager of the $2.4 billion Vanguard Precious Metals and Mining Fund, is stepping down from day-to-day fund management responsibilities at M&G Investment Management Limited, effective immediately. 

 "On behalf of Vanguard, I'd like to thank Graham for nearly 25 years of dedication to our clients,” said Vanguard CEO Bill McNabb in a statement. “In addition to serving as a portfolio manager, Graham was instrumental in building the M&G investment team, and we believe that the fund will continue to benefit from the firm’s long-term approach and deep expertise in the precious metals and mining industries.”

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