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Ariel Investments, Vanguard
Vanguard has added Ariel Investments, to its roster of active managers. Ariel will join Cardinal Capital Management, and Frontier Capital Management Co, in overseeing the $1.2 billion Vanguard Explorer Value Fund.

Founded in 1983 as a small- and mid-cap value manager, Ariel was the first Black-owned mutual fund company in the US. 

Ariel’s initial target allocation will be 10 per cent of the Vanguard Explorer Value Fund, with the balance of assets will be divided evenly between the fund’s two other tenured value managers.

“Vanguard continuously seeks out leading investment firms that demonstrate the expertise, diversity of thought, and accountability needed to drive successful outcomes for investors,” Dan Reyes, head of Vanguard Portfolio Review Department, said.

The move is significant, as Vanguard is one of the world’s largest asset managers. As of November 30, 2021, it managed $8.5 trillion in global assets.