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Important investment information

The value of investments, and the income from them, may fall or rise and investors may get back less than they invested. For funds that invest in overseas markets, the value of this investment may fall or rise as a result of changes in exchange rates. Some funds may invest in emerging markets which can be more volatile than more established markets. As a result the value of this investment may rise or fall. Corporate bonds may provide higher yields but as such may carry greater credit risk increasing the risk of default on repayment and erosion of the capital value of your investment and the level of income may fluctuate. Fixed interest securities also carry the risk of default on repayment and erosion of the capital value of your investment and the level of income may fluctuate. Movements in interest rates are likely to affect the capital value of fixed interest securities. Investments in smaller companies may be more volatile than investments in well-established blue chip companies. Some funds may invest in derivatives. The risks associated with the use of derivatives are different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. There is no assurance that any derivative strategy used by the Fund will succeed and a Fund may suffer a substantial loss as a result. Past performance is not a reliable indicator of future results.

The Central Bank of Ireland has granted authorisation for the Vanguard U.K. Gilt UCITS ETF to invest up to 100% of net assets in different Transferable Securities and Money Market Instruments issued or guaranteed by any EU Member State, its local authorities, non-EU Member States or public international bodies of which one or more EU Member States are members. As at 31 December 2015, the Vanguard U.K. Gilt UCITS ETF invests more than 35% of its scheme property in transferable securities and money market instruments issued or guaranteed by the UK. For further information on the fund’s investment policy, please refer to the Key Investor Information Document ("KIID") and Prospectus click here.

The Manager of Vanguard Funds plc is Vanguard Group (Ireland) Limited. Vanguard Asset Management, Limited is a distributor of Vanguard Funds plc.

Vanguard Funds plc have been authorised by the Central Bank of Ireland as a UCITS and have been registered for public distribution in certain EU countries. Prospective investors are referred to the Funds' prospectus for further information. Prospective investors are also urged to consult their own professional advisors on the implications of making an investment in, and holding or disposing shares of the Funds and the receipt of distributions with respect to such shares under the law of the countries in which they are liable to taxation.

For further information on the fund’s investment policy, please refer to the Key Investor Information Document (“KIID”). The KIIDs and Prospectus are available in the relevant languages. These documents are available from Vanguard Asset Management, Limited via this website and on request.

Vanguard Asset Management, Limited is a sub-manager of some of the Ireland domiciled sub-funds.

Vanguard Asset Management, Limited only gives information on products and does not give investment advice based on individual circumstances. If you have any questions related to your investment decision or the suitability or appropriateness for you of the product[s] described on this website, please contact your financial adviser.

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