Briefly

Vanguard Group said Charles Freeman plans to retire from the mutual fund industry after 35 years as a manager on the $19-billion Vanguard Windsor Fund. Freeman, 60, who’s a partner at subadvisory firm Wellington Management Co., will be succeeded at the end of June by 37-year-old David Fassnacht, who has been working at the Windsor Fund since 1991.

The fund, one of the best-known “value”-oriented stock portfolios, had an average annual return of 11.2% in the 10 years ended Dec. 31, edging the 11.1% average of the Standard & Poor’s 500 index in the period.