Jean Hynes will step down as co-portfolio manager of the Vanguard Health Care Fund in January while staying in her Wellington Management CEO post, Vanguard announced Thursday.
Rebecca Sykes, who has co-managed the portfolio since May 2023, will become sole portfolio manager.
The change is part of a long-term succession plan that ensures continuity for investors in the industry’s largest health care fund, Vanguard said.
The five-star fund, as tracked by Morningstar, has year-to-date returns of 11.38% and an expense ratio of 0.35%.
Hynes, who has served as portfolio manager on the fund since 2008, will also continue in her role as a Wellington managing partner.
She has focused on the health care sector in her 33-year career with the investment management firm.