A long-time Vanguard portfolio manager is calling it quits after some 38 years in the business. Edward Owens, portfolio manager of Vanguard Health Care Fund, plans to retire on December 31, according to the firm.

Owens, a senior vice president and partner of Wellington Management Company, has managed the Health Care Fund since its inception in 1984 and is Vanguard’s longest-tenured external portfolio manager. The fund is the largest fund in the global health/biotech category with $22.4 billion in assets and the second largest sector fund in the mutual fund industry behind the $27.3 billion Vanguard REIT Index Fund, according to Lipper.

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