US-based investment management firm Vanguard has added Stephens Investment Management Group as an advisor to the US$11.4 billion Vanguard Explorer Fund.
According to Vanguard, this is the first Vanguard advisory mandate for Stephens, a Little Rock, Arkansas, and Houston, Texas-based investment advisory firm with more than US$1.5 billion under management.
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Bill McNabb, chairman and CEO of Vanguard, said: "We are pleased to welcome Stephens Investment Management as an advisor to the Explorer Fund, and to our roster of now 30 investment advisory firms from around the world. The firm brings a distinctive small-cap expertise to the fund, which will diversify the advisory team and the portfolio."
Stephens employs a disciplined, bottom-up investment approach. The firm combines fundamental research with quantitative screening to identify companies that are poised for earnings growth.
Ryan Crane, chief investment officer of Stephens, serves as portfolio manager. Crane has 18 years of investment management experience. Stephens is initially managing a modest amount of the fund, with its portion expected to grow more substantial over time.
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