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Wellesley and Wellington Bond Fund Manager
Old 12-02-2018, 11:09 AM   #1
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Wellesley and Wellington Bond Fund Manager

I stumbled on this article about the Wellington/Wellesley bond manager retiring from Vanguard.
https://citywireusa.com/professional...funds/a1145132

Psst Wellesley! was noticed often on E-R, but I have not seen it much anymore.

Wellesley (60% bond) and Wellington (30% bond) are actively managed. Wondering how those invested in either fund (VWIAX or VWELX) are holding up?
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Old 12-02-2018, 11:14 AM   #2
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Wondering how those invested in either fund (VWIAX or VWELX) are holding up?
I'm heavily invested in both - I'm still able to sit up and take nourishment.
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Old 12-02-2018, 11:27 AM   #3
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I'm heavily invested in both - I'm still able to sit up and take nourishment.
Steady diet of low fee, actively managed, high risk-adjusted return would I think be taking its toll by now, if it was going to.

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Old 12-02-2018, 11:34 AM   #4
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I'm heavily invested in both - I'm still able to sit up and take nourishment.
Sleeping well at night?
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Old 12-02-2018, 12:56 PM   #5
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I have a fair amount of VWIAX in 401k/IRA monies--given the state of the bond market these days, and the low fee of Admiral, I don't mind someone with a bit more experience than me trying to make the most out of the World of Bonds right now.
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Old 12-02-2018, 01:33 PM   #6
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Both of those funds are long term investments. This year has not been kind to many balanced funds, even worse for those with long duration bonds and International stocks. If you get squeamish over one year returns, these funds are not for you. I own Wellesley in my IRA and still think it meets my requirements for safety and growth.
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Old 12-02-2018, 03:24 PM   #7
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The Pssst Wellesly crowd is doing OK.

Now move along. There is nothing to see here.

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Old 12-02-2018, 04:08 PM   #8
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Wellington and Wellesley have been around for a very long time and they did just fine before the retiring bond manager. It's a team of good people and their methodology/philosophy that makes them great.
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Old 12-02-2018, 05:58 PM   #9
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I'm heavily invested in both - I'm still able to sit up and take nourishment.
Sleeping well at night?
+1, and +1

I'm 30% Wellesley VWIAX and very happy.
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Both of those funds are long term investments. This year has not been kind to many balanced funds, even worse for those with long duration bonds and International stocks. If you get squeamish over one year returns, these funds are not for you. I own Wellesley in my IRA and still think it meets my requirements for safety and growth.
Exactly.
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The Pssst Wellesly crowd is doing OK.

Now move along. There is nothing to see here.

Yep.
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Wellington and Wellesley have been around for a very long time and they did just fine before the retiring bond manager. It's a team of good people and their methodology/philosophy that makes them great.
This isn't the first time they have had someone leave, but they continue with the same methodology/philosophy which, as you point out, is what makes them great.

So far, every single year I get really great dividends and capital gains, especially in December. Usually the share price dips temporarily about this time of year, IIRC, because they are getting ready to send their December dividends and capital gains out to shareholders. Usually someone panics and posts asking what happened, is Wellesley/Wellington crashing? But no. It's a seasonal thing I guess.

Psst!!!! Wellesley!
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Old 12-02-2018, 06:17 PM   #10
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This is not a case of a fund manager with a hot hand leaving. This is multiple generations of managers with the same philosophy that operate in the same environment. I don't really expect much change in investment philosophy.
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Old 12-02-2018, 06:49 PM   #11
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I owned Wellesley for a little while but chose to shift to other (index) funds that are part of my overall allocation.

Although Iím not in the fund now, I donít see any cause for concern for long-term holders. psst... steady as she goes.
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Old 12-02-2018, 06:58 PM   #12
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I'm 99% Wellesley and have been. Find your risk tolerance and stick to it. GL
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Old 12-03-2018, 05:43 AM   #13
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I'm heavily invested in both - I'm still able to sit up and take nourishment.
We are 9.5% allocated to Wellesley. Not too hot, not too cold.
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Old 12-03-2018, 05:53 AM   #14
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I have a fair amount of VWIAX in 401k/IRA monies--given the state of the bond market these days, and the low fee of Admiral, I don't mind someone with a bit more experience than me trying to make the most out of the World of Bonds right now.
Sums up my feelings. Early in 2018 we went from 5% to 10% in our target AA for Wellesley. Did that instead of rebalancing into Total Bond.
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Old 12-03-2018, 06:19 AM   #15
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Earlier in the year, I rolled 80% of my 401k into Wellesly Fund and 20% into the new Wellesly Global. Both funds have done exactly what I expected them to do during this year.

Now that the interest and Fed funds rate increases will begin to slow, I expect Wellesly should do a little better in the future.

Vanguard has managed this fund for a long time and all one has to do is look at the track record. I think it is a great fund for a retiree and an even better fund for a retiree that chooses not to worry about leaving an estate to heirs.

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Old 12-03-2018, 09:41 AM   #16
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Wellington is 75% of my after tax investments. Wellesley comprises the other 25%.

Wellington is 65% of my IRA. Vanguard Health Care and Vanguard Dividend Growth comprise the other 35% of my IRA.

After tax Wellesley is what I currently make my monthly withdrawals from. I consider it to be my short term bucket; when I deplete it I will sell a few more years of living expenses from Wellington and buy more Wellesley.

I don't plan on making any changes.
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Old 12-03-2018, 09:47 AM   #17
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If anyone is casting doubt on Wellesley or Wellington, itís not clear what the specific concern is.

Would it be safe to assume that, if Wellington and Wellesley are exposed in some way, then Global Wellington and Global Wellesley are similarly exposed?
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Old 12-03-2018, 10:13 AM   #18
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We're 90% Wellington in our IRA and I'm thinking of moving it to 50/50 Wellington/Wellesley but not sure yet. No sleeping problems here.
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