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Vanguard Health Care Fund Manager Ed Owens Retires (VGHCX)

For Vanguard Health Care manager Ed Owens, a picture tells 230,000 words


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Ed Owens, the Wellington Management portfolio guru who’s led the Vanguard Health Care Fund (VGHCX) since its May 1984 inception, retired at the end of 2012. While his co-manager, Jean Hynes, ably takes the reins and I continue to recommend this fund as a core, long-term holding, it’s hard to put into words just how incredible Owens’ track record has been.

That’s why I’m resorting to a picture. As you know, it’s been said that a picture tells 1,000 words. But in the chart at right, that picture tells close to 230,000. To be precise, had you invested $3,000 in Health Care at the end of May 1984 and held it through the end of Ed’s tenure, reinvesting distributions along the way, you’d now have $227,770. Had you put that same money into Vanguard 500 Index Fund (VFINX), your $3,000 would have grown to $54,570. In other words — no contest!

I’ve been investing in Health Care  since the 1980s. Ed helped put both of my kids through college, and for that alone I say, “Thank you.” I know there are many, many investors who feel the same way.

Senior Editor Dan Wiener and Editor/Research Director Jeffrey DeMaso publish The Independent Adviser for Vanguard Investors, a monthly newsletter that keeps abreast of recent developments at Vanguard, and the annual FFSA Independent Guide to the Vanguard Funds.

Article printed from InvestorPlace Media,

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