“Pam not only successfully served as a fund manager for more than two decades, but she has also developed a deep and talented team of portfolio managers and traders to oversee Vanguard’s tax-exempt money market funds,” said Greg Davis, Global Head of Vanguard Fixed Income Group. “We are grateful to Pam for her service and dedication to our shareholders for the last 34 years.”
The funds’ investment policies, objectives, and fundamental strategies will remain the same. The management change isn’t expected to have any impact on investors. In addition, Mr. Schwartz will assume oversight responsibility for the short-term municipal team.
Mr. Schwartz joined Vanguard in 2004 and currently manages the $2.2 billion Vanguard New York Tax-Exempt Money Market Fund and $2.1 billion Pennsylvania Tax-Exempt Money Market Fund. As a member of the tax-exempt municipal team, Mr. Schwartz has worked closely with Ms. Tynan since 2005. He graduated with a BS in finance and marketing from the University of Richmond’s Robins School of Business and is a CFA Charterholder.
All asset figures are as of November 30, 2015, unless otherwise noted.
All investing is subject to risk, including the possible loss of the money you invest.
An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although a money market fund seeks to preserve the value of your investment at $1 per share, it is possible to lose money by investing in such a fund.