Vanguard Group has awarded a mandate to assume investment advisory responsibilities for a part of its $4.3 billion Growth and Income Fund to DE Shaw Investment Management (Desim). Desim is the DE Shaw Group’s institutional asset management business. The fund will now be using the services of three advisers.
Each adviser will use computer models to pick a diversified group of stocks that possesses investment characteristics similar to those of the S&P 500 Index but attempt to give a higher return than the index. Desim, established in 2005, now manages more than $6 billion in investment capital including this new advisory mandate.
Click here for the release from Business Wire.