Vanguard Group has reshuffled the management at the top of two tax-exempt bond funds, reassigning responsibilities over the limited-term tax-exempt fund and the insured long-term tax-exempt fund.

Pam Tynan will hand over the portfolio management of the $7 billion limited-term fund to Marlin Brown, while Reid Smith will cede the oversight of the $3.4 billion insured long-term fund to John Carbone. Both Tynan and Smith will continue to manage several other funds.

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