Vanguard’s McEvoy plans to retire in June

The Vanguard Group announced that Earl E. McEvoy, an asset manager for three of the firm’s mutual funds, will retire on June 30. He is co-manager of the Vanguard Wellesley Income Fund and lead manager of the Vanguard High-Yield Corporate Fund and Vanguard Long-Term Investment-Grade Fund. Mr. McEvoy is a senior vice president and partner of Wellington Management Co. LLP, which provides investment advisory services to the funds. Since joining Wellington Management in 1978, he has advised the fixed-income portion of the $13.3 billion Wellington Income fund since 1982, the $8.8 billion High-Yield Corporate Fund since 1984, and the $5.7 billion Long-Term Investment-Grade Fund since 1994. Additionally, he serves as portfolio manager for the $251 million High-Yield Portfolio of the Vanguard Variable Insurance Fund. Three senior Wellington portfolio managers will succeed Mr. McEvoy in his role on Vanguard funds, effective June 30. John C. Keogh, senior vice president, partner and fixed-income portfolio manager for Wellington Management, will manage the bond portion of Wellesley Income Fund. Michael L. Hong, vice president, fixed-income credit analyst and portfolio manager of Wellington Management, will manage the Vanguard High-Yield Corporate Fund and the VVIF-High-Yield Portfolio. Lucius T. Hill III, senior vice president, partner, and fixed-income portfolio manager for Wellington Management, will manage Vanguard Long-Term Investment-Grade Fund. Vanguard manages about$1.25 trillion in U.S. mutual fund assets, including more than $350 billion in employer-sponsored retirement plans as of Jan. 31.