MAJOR AWARD GOES TO BOGLE

John C. Bogle, senior chairman of Vanguard Group, has received the Association for Investment Management and Research’s highest honor, the Award for Professional Excellence.

Previous recipients include Sir John Templeton, Warren Buffett, John Neff and Peter Bernstein.

The trade group also honored Harry Markowitz, director of research for Daiwa Securities Trust Co. and president of Harry Markowitz Co. Mr. Markowitz, who shared the 1990 Nobel Prize in Economics for his work on modern portfolio theory, received the Nicholas Molodovsky Award. It is presented periodically for outstanding contributions of such significance as to change the direction of the investment profession and to raise it to higher standards of accomplishment.