Provider Profiles
Vanguard Institutional Advisory Services
| Profile | |
| Business Model§ | Proprietary/non-proprietary |
| Year Entered Into OCIO Business | 1997 |
| No. of Relationship Managers/Salespeople | 19 |
| No. of OCIO Portfolio Managers | 43 |
| OCIO % of Total Firm Revenue | Not provided |
| No. of Clients, Full Discretion | 1220 |
| Full Discretionary Assets | |
| Total Full Discretionary OCIO Assets | $62.7b |
| Discretionary Assets by Fund Type | |
| Defined Benefit | $14.8b |
| 401(k), 403(b), Other DC | $409mm |
| Endowments/Foundation | $29.8b |
| Healthcare Pools (Board designated, funded depreciation) | $10.2b |
| Other | $7.5b |
| Portfolio Construction |
| Vanguard's portfolio construction methodology focuses on disciplined risk taking, ensuring clients are adequately compensated for the risk exposures taken. Because each client is unique across return requirements and constraints, no two client solutions will be identical in their utilization of alpha, beta and/or illiquidity. Their clients benefit from custom portfolio construction and robust risk management utilizing their proprietary capital markets model, asset allocation model and enterprise risk management solution. One key differentiator is that, as a firm owned by its investors, Vanguard is uniquely qualified to say that we are 100% aligned with our clients, and this alignment drives our portfolio management approach. |
| §OCIO only: Open-architecture (no proprietary products used): Investment outsourcing is only business line. OCIO + other: An open-architecture/manager-of-manager investment outsourcing platform as one of multiple business lines. Implemented consulting: i.e. consulting firm that also has discretion over assigned assets. Proprietary/non-proprietary: An investment outsourcing platform that offers proprietary products alongside non-proprietary products. |