As the shareholders of one of America’s biggest investment managers prepare for a “snap” election of its board of directors, many of them — not to mention the elected treasurers in several states in which the firm manages its assets — are beginning to question just why the Vanguard Group has so many directors that come from the left wing of the Democratic Party.

Celebrating its 50th anniversary and overseeing an estimated $10.4 trillion in U.S.-domiciled funds, the Pennsylvania-based Vanguard handles investments in mutual funds and retirement plans in numerous states. The investment colossus also has a close relationship with the powerhouse Blackrock firm and manages private and public funds globally.

So it is not so surprising that several state treasurers would begin to look closely at Vanguard when last October, it suddenly opted for a new election of its 13-member board of directors within 90 days — which means it is scheduled for this week. The “snap election” is particularly eye-catching because the last time there was a vote for the Vanguard directors was in 2017.

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