Like all Vanguard funds, the Wellington-managed ones are inexpensive. They charge investors between 21 and 34 cents per $100 invested, roughly one-quarter to one-third the prices of average mutual funds in their categories, according to Morningstar data.
Walter Morgan headed the Wellington Fund for 42 years until he retired, a long tenure that set an example at the firm. Many managers spend their entire careers at Wellington, said Michael Rosen, CIO at Angeles Investment Advisors in Los Angeles, where he helps oversee $25 billion.
“If you have been there for 20 years, you are the new kid at the firm,” Rosen said.