The
"We do not believe it has to do with market timing and late trading," said spokeswoman Lisa Finkel. Wellington, the investment advisor for 250 mutual funds, advises on 13 funds from the No. 2 firm
When contacted by The Times, a Vanguard spokesman said he was not aware of the investigation into Wellington, which also manages some
Founded in 1928, Wellington has counted Vanguard as a compatriot since the 1950s. In fact, Vanguard founder John C. Bogles investment management career began in 1951 with Wellington. Although Vanguard took over the Wellington fund in 1975, it allowedWellington to remain on as the adviser.
Other companies associated with Vanguard, including
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The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.