Understanding Vanguard’s ESG Strategy

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About This Episode

On July 18, Vanguard launched the Vanguard Baillie Gifford Global Positive Impact Stock Fund, which is the firm’s first impact fund and is designed for clients looking to invest in companies that have the potential to outperform the broad market as well as deliver positive change. Vanguard introduced the fund by adopting an existing impact fund managed by Baillie Gifford since 2017. The fund’s portfolio manager, Kate Fox, was previously a guest on Gaining Perspective.

Vanguard now has six ESG offerings in the U.S.: three index ETFs, two active mutual funds, and one index mutual fund.

About Our Guest

Matthew Piro, CFA, CFP®, is global head of ESG product in Vanguard’s portfolio review department. In this role, he is responsible for Vanguard’s global ESG product strategy and management. Piro and his team partner closely with clients to deliver ESG product expertise and to ensure Vanguard's ESG products continue to meet client needs.

Before his current position, Mr. Piro was based in Vanguard’s London office as head of product, Europe. In that role, Mr. Piro was responsible for Vanguard Europe's Product strategy and management. He was also a member of the European leadership team, which is the executive committee responsible for managing the European business. Prior to that, Mr. Piro was a senior investment analyst in Vanguard's manager research group, where he focused on fund oversight and manager selection, with an emphasis on actively managed non-U.S., global, and emerging markets equity strategies. In this capacity, Mr. Piro provided fund and manager analysis and recommendations to the Vanguard global investment committee and board of directors. Mr. Piro joined Vanguard in 2002 and has been in the portfolio review department since 2008. Mr. Piro earned a B.S. in business administration at the University of Vermont. He is a CFA® charterholder and is a member of the CFA Society of Philadelphia.

Show Notes

Here are some links to resources to learn more about Vanguard and its approach to ESG:

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