New Leadership at One of Our Funds

Vanguard recently announced that longtime manager Michael Reckmeyer will retire in June.

runners passing a baton
(Image credit: Getty Images)

Some fund manager changes concern us less than others. When two longtime managers of Vanguard Equity-Income (VEIPX), a member of the Kiplinger 25, the list of our favorite no-load mutual funds, retired last year, we weren't bothered.

The departing managers were part of Vanguard's quantitative equity group, which uses a computer algorithm to choose stocks. Plus, the quant group runs just one-third of the fund's assets.

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Nellie S. Huang
Senior Associate Editor, Kiplinger's Personal Finance

Nellie joined Kiplinger in August 2011 after a seven-year stint in Hong Kong. There, she worked for the Wall Street Journal Asia, where as lifestyle editor, she launched and edited Scene Asia, an online guide to food, wine, entertainment and the arts in Asia. Prior to that, she was an editor at Weekend Journal, the Friday lifestyle section of the Wall Street Journal Asia. Kiplinger isn't Nellie's first foray into personal finance: She has also worked at SmartMoney (rising from fact-checker to senior writer), and she was a senior editor at Money.