Vanguard names Schwartz new manager of short-term tax-exempt funds

By Tanya Meyer

Chicago, Jan. 7 – Vanguard Group, Inc. announced that investment management veteran Justin A. Schwartz has been promoted to portfolio manager of the Vanguard Tax-Exempt Money Market Fund and Vanguard Short-Term Tax Exempt Fund.

Schwartz will also oversee the short-term municipal team and all tax-exempt money market funds managed by the company’s fixed income group.

Schwartz, a Vanguard employee since 2004, has worked in investment management since 2005 and managed investment portfolios since 2010. He currently manages the $2.2 billion Vanguard New York Tax-Exempt Money Market Fund and $2.1 billion Pennsylvania Tax-Exempt Money Market Fund.

Pamela Wisehaupt Tynan, the current portfolio manager of the two tax-exempt funds to be managed by Schwartz, will retire from the company at the end of February.

Tynan joined the company in 1982 and has managed the $17.3 billion Vanguard Tax-Exempt Money Market Fund and the $12.4 billion Vanguard Short-Term Tax-Exempt Fund since 1988 and 1996, respectively, according to a news release.

As head of the short-term municipal team in Vanguard’s Fixed Income Group, she also oversaw all six tax-exempt money market portfolios, municipal bond fund cash reserves and the Vanguard Municipal Cash Management Fund, among others, representing approximately $52 billion in assets.

Vanguard Group is a Valley Forge, Penn.-based investment management company.

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