Fran Kinniry's guest appearances

Fran Kinniry

Masters in Business

Capital Allocators – Inside the Institutional Investment Industry

The Long View

Michael Mauboussin

Ben Inker

Jeremy Grantham

Jon Stein

Ric Edelman

Ted Seides

Mohamed El-Erian

Jason Zweig

Jack Bogle

Meb Faber

Andrew Lo

Rick Rieder

Robin Wigglesworth

Jean Hynes

Joel Greenblatt

OwlTail

Fran Kinniry is a twenty-three year veteran at the Vanguard Group, where he’s led the teams that spearhead Vanguard’s research into new products. Fran helped Vanguard enter the direct advice business, developed Vanguard’s Advisor Alpha concept, started its Investment Strategy Group, and most recently heads Vanguard’s latest initiative investing in private equity.  Our conversation covers an overview of Vanguard business, Fran’s three roles over a quarter century at the firm, behavioral coaching, and the firm’s foray into private equity. We discuss the research process leading to the introduction of private equity, potential scale across institutional and retail clients, timing of the decision, fees, and manager selection.  We then close discussing Vanguard’s cooperative ownership model, compensation, and the future of index fund.  When the industry’s leading index fund manager known for low-cost investing steps into high-cost private equity after years of research that showed the benefits of the asset class, those calling for the abandonment of active management should take notice. Like all other practitioners in active management, Fran and Vanguard preach outcomes over costs. Learn MoreSubscribe:  Apple | Spotify |  Google  Follow Ted on twitter at @tseides or LinkedIn Subscribe  Monthly Mailing List  Read the Transcript  

Fran Kinniry is a twenty-three year veteran at the Vanguard Group, where he’s led the teams that spearhead Vanguard’s research into new products. Fran helped Vanguard enter the direct advice business, developed Vanguard’s Advisor Alpha concept, started its Investment Strategy Group, and most recently heads Vanguard’s latest initiative investing in private equity. Our conversation covers an overview of Vanguard business, Fran’s three roles over a quarter century at the firm, behavioral coaching, and the firm’s foray into private equity. We discuss the research process leading to the introduction of private equity, potential scale across institutional and retail clients, timing of the decision, fees, and manager selection.  We then close discussing Vanguard’s cooperative ownership model, compensation, and the future of index fund. When the industry’s leading index fund manager known for low-cost investing steps into high-cost private equity after years of research that showed the benefits of the asset class, those calling for the abandonment of active management should take notice. Like all other practitioners in active management, Fran and Vanguard preach outcomes over costs. Learn MoreSubscribe: <a href="https://podcasts.apple.com/us/podcast/capital-allocators/id1223764016" rel="nofollow" target="_blank"> Apple</a> | <a href="https://open.spotify.com/show/3q6PrjHVfRzpD2lN1g2XRU" rel="nofollow" target="_blank">Spotify</a> | <a href="https://podcasts.google.com/feed/aHR0cDovL3RlZHNlaWRlcy5saWJzeW4uY29tL3Jzcw==" rel="nofollow" target="_blank"> Google </a> Follow Ted on twitter at <a href="https://twitter.com/tseides?lang=en" rel="nofollow" target="_blank">@tseides</a> or <a href="https://www.linkedin.com/in/tedseides/" rel="nofollow" target="_blank">LinkedIn</a> Subscribe <a href="https://capitalallocatorspodcast.com/capitalallocatorspodcast.com/signup" rel="nofollow" target="_blank"> Monthly Mailing List </a> Read the <a href="https://capitalallocatorspodcast.com/subscriptionsignup/" rel="nofollow" target="_blank">Transcript </a>

Fran Kinniry – The Comfort of Paradox at Vanguard Group (Capital Allocators, EP.173)

(A note to listeners: We recorded this interview before the recent sell-off began, and that is why it's not discussed. We'll address the recent downturn in future installments of The Long View. Please enjoy this episode and thanks again for listening.)Our guest this week is Fran Kinniry. He is a principal in the Vanguard Investment Strategy Group, which develops Vanguard's investment philosophy, methodology, and portfolio construction strategies. Kinniry has been a leading researcher on topics like capital markets, portfolio design, and investment strategy. He was recently tapped by Vanguard to lead the firm's initiative to offer private equity investment management to certain institutional and high-net-worth clients. Before joining Vanguard in 1997, Kinniry was a partner and senior portfolio manager for institutional asset manager Executive Investment Advisors, and before that he was the portfolio manager for H. Katz Capital. Kinniry is a CFA charterholder and earned his Master of Business Administration and bachelor's degree from Drexel University.Background and ResearchFran Kinniry bioHarbourVest"Vanguard and HarbourVest Announce Private Equity Partnership." The Vanguard Group, Feb. 5, 2020."The Role of Private Equity in a Nonprofit Portfolio." The Vanguard Group, Nov. 15, 2019.Vanguard research library"Vanguard Advisor's Alpha," by Donald Bennyhoff and Fran Kinniry, Vanguard Research, July 2018.John C. Bogle: A Look Back at the Life of Vanguard's Founder

(A note to listeners: We recorded this interview before the recent sell-off began, and that is why it's not discussed. We'll address the recent downturn in future installments of The Long View. Please enjoy this episode and thanks again for listening.)Our guest this week is Fran Kinniry. He is a principal in the Vanguard Investment Strategy Group, which develops Vanguard's investment philosophy, methodology, and portfolio construction strategies. Kinniry has been a leading researcher on topics like capital markets, portfolio design, and investment strategy. He was recently tapped by Vanguard to lead the firm's initiative to offer private equity investment management to certain institutional and high-net-worth clients. Before joining Vanguard in 1997, Kinniry was a partner and senior portfolio manager for institutional asset manager Executive Investment Advisors, and before that he was the portfolio manager for H. Katz Capital. Kinniry is a CFA charterholder and earned his Master of Business Administration and bachelor's degree from Drexel University.Background and Research <a href="https://vanguardblog.com/author/fran-kinniry/" rel="nofollow" target="_blank">Fran Kinniry bio</a><a href="https://www.harbourvest.com/" rel="nofollow" target="_blank">HarbourVest</a>"<a href="https://institutional.vanguard.com/VGApp/iip/site/institutional/researchcommentary/article/NewsInstInfo020520" rel="nofollow" target="_blank">Vanguard and HarbourVest Announce Private Equity Partnership</a>." The Vanguard Group, Feb. 5, 2020."<a href="https://institutional.vanguard.com/VGApp/iip/site/institutional/researchcommentary/article/InvComPrivateEquityNonProfit" rel="nofollow" target="_blank">The Role of Private Equity in a Nonprofit Portfolio</a>." The Vanguard Group, Nov. 15, 2019.<a href="https://institutional.vanguard.com/VGApp/iip/site/institutional/researchcommentary/researcharchivemain" rel="nofollow" target="_blank">Vanguard research library</a>"<a href="https://personal.vanguard.com/pdf/ISGAA.pdf" rel="nofollow" target="_blank">Vanguard Advisor's Alpha</a>," by Donald Bennyhoff and Fran Kinniry, Vanguard Research, July 2018.<a href="https://about.vanguard.com/who-we-are/a-remarkable-history/founder-Jack-Bogle-tribute/" rel="nofollow" target="_blank">John C. Bogle: A Look Back at the Life of Vanguard's Founder</a>

Fran Kinniry: Applying the Vanguard Approach to Private Equity

Bloomberg Opinion columnist Barry Ritholtz interviews Francis M. Kinniry, a principal in Vanguard Investment Strategy Group responsible for capital market research, portfolio design, development of customized investment solutions, investment market commentary and research. He is a chartered financial analyst and earned his master's in business administration from Drexel University.See omnystudio.com/listener for privacy information.

Bloomberg Opinion columnist Barry Ritholtz interviews Francis M. Kinniry, a principal in Vanguard Investment Strategy Group responsible for capital market research, portfolio design, development of customized investment solutions, investment market commentary and research. He is a chartered financial analyst and earned his master's in business administration from Drexel University.See <a href="https://omnystudio.com/listener" rel="nofollow" target="_blank">omnystudio.com/listener</a> for privacy information.

Fran Kinniry Discusses Diversified Portfolios