Vanguard Growth & Income's Lead Manager Retires

Also, Vintage Funds readies Tech Fund.
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John Cone has taken the reins of the solid-performing $9.4 billion

(VQNPX) - Get Report

Vanguard Growth & Income in the wake of lead manager John Nagorniak's retirement, according to a company statement Thursday.

Nagorniak has retired from his post as chief executive of the fund's Boston-based subadviser,

Franklin Portfolio Associates

, but he will stay on as Franklin's chairman of the board. Nagorniak had run the fund since its 1986 inception, compiling an impressive track record. The fund has topped more than 90% of its large-cap value peers over the past one-, three-, five- and 10-year periods, according to

Morningstar

. Its 17.9% 10-year annualized return beats 96% of the fund's peers and edges out the

S&P 500.

Cone started co-managing the fund last year. He has also taken over Nagorniak's portion of the $5.9 billion

(VMRGX)

Vanguard Morgan Growth fund, a large-cap growth fund that divides its assets among a trio of managers.

Vintage Funds Plans Technology Fund

You don't usually put the words "vintage" and "technology" together. Until now.

Des Moines, Iowa-based

Vintage Funds

filed preliminary paperwork with regulators Wednesday for the no-load

Vintage Technology

fund. The filing, giving the fund's managers leeway to invest in foreign or U.S. companies of any size that "will benefit significantly from technological advances or improvements," doesn't divulge specifics.

The fund will be run by three co-managers: Julie O'Rourke, Thomas Bolgert and Scott Dudgeon. Bolgert and Dudgeon aren't listed as managers on other Vintage funds, but O'Rourke is, and her record has been spotty. Since 1995, for example, she has co-managed large-cap blend

Vintage Equity

and large-cap growth

Vintage Aggressive Growth

with Darrell Thompson. Over the past five years, the Equity fund's 23.6% return beats more than 70% of its peers. But Aggressive Growth hasn't fared as well. Over the past three years, this fund's 18.8% annual return lags the S&P 500 and 85% of its large-cap growth peers, according to Morningstar.

The new tech fund's expenses are capped at 1.75%, higher than the average technology fund's 1.66% expense ratio, according to Morningstar.

See Wednesday's

Fund Moves, Manager Changes.

See Tuesday's

Fund Moves, Manager Changes.

See Monday's

Fund Moves, Manager Changes.