John Neff, who was responsible for the Vanguard Windsor Fund’s exceptional performance for more than three decades, has died at the age of 87, writes James Hagerty for The Wall Street Journal.
“Our deepest sympathies are with the Neff family,” said Vanguard CEO Tim Buckley. “John always delivered for his clients, defined value investing, and mentored the next generation of Wellington investors, benefiting several Vanguard funds. His legacy lives on in those he mentored.”
In 1964, Neff became manager of Wellington Management’s Windsor mutual fund, which later became part of the Vanguard Group stable. Over the next three decades, he became one of the most successful fund managers of his time.
In fact, he grew the Windsor Fund from $75 million in net assets to $13.6 billion by the end of 1995, when he retired. During his tenure, the Windsor Fund also consistently outperformed the stock market.
This exceptional performance was due in part to his dislike of fads and his focus on companies that were often misunderstood or overlooked.
His methods are immortalized in his book, John Neff on Investing, which was published in 1999.
Read more about John Neff in The Wall Street Journal here.