T. Rowe Price will manage portions of three Vanguard funds holding over $42 billion in assets, marking its first advisory role for the firm.
Vanguard appointed T. Rowe Price Associates to manage segments of three active equity funds totaling $42 billion in combined assets. The move involves Vanguard Explorer, Vanguard Growth and Income, and the Vanguard Variable Insurance Fund Small Company Growth Portfolio, with assets of $22.1 billion, $18.8 billion, and $1.4 billion, respectively.
This marks the first time T. Rowe Price has advised Vanguard, replacing prior managers ArrowMark Colorado Holdings and Los Angeles Capital Management. The funds retain their existing mandates, though Vanguard adjusted Explorer’s allocations to emphasize growth stocks, a shift expected to influence its risk profile.
The changes were announced June 29 2026, with T. Rowe Price receiving individual sleeves of each portfolio rather than full control.