Vanguard UCITS Portfolios (Offshore)

Vanguard Investment Series plc

Period ending 31 March 2016

Vanguard Offshore portfolios At a glance

Vanguard fund

Benchmark

Total assets
USD (millions)

Ongoing charges figure (%) Purchase

Institutional
Investor
fee (%)

Index equity
Global Stock Index Fund

MSCI World Index

0.25

0.30

668

0.38

0.40

5,497

0.10

0.25

MSCI Europe Index

5,452

0.30

0.35

MSCI EMU Index

2,482

0.30

0.35

Emerging Markets Stock Index Fund

MSCI Emerging Markets Index

6,535

0.27

0.40

Japan Stock Index Fund

MSCI Japan Index

2,250

0.23

0.30

Pacific ex-Japan Stock Index Fund

MSCI Pacific ex Japan Index

1,432

0.23

0.30

SRI European Stock Fund

FTSE Developed Europe Index

934

0.30

0.35

SRI Global Stock Fund

FTSE Developed Index

839

0.35

0.40

Global Small-Cap Index Fund

MSCI World Small Cap Index

7,837

U.S. 500 Stock Index Fund

S&P 500 Index

European Stock Index Fund

Eurozone Stock Index Fund

Quantitative equity
Global Enhanced Equity Fund

MSCI World Index

Vanguard fund

Manager

136
Total assets
USD (millions)

0.50

Ongoing charges figure (%) Purchase

Institutional
Investor
fee (%)

Active equity
U.S. Discoveries Fund

Granahan Investment Management

U.S. Fundamental Value Fund

U.S. Opportunities Fund

Pzena Investment Management

PRIMECAP Management Company

Vanguard fund

Benchmark

109
29
2,087
Total assets
USD (millions)

0.85

0.95

0.85

0.95

Ongoing charges figure (%) Purchase

Institutional
Investor
fee (%)

Fixed income
Barclays Global Aggregate Float Adjusted Bond
Index Hedged

Global Bond Index Fund

U.S. Government Bond Index Fund
U.S. Investment Grade Credit Index Fund
Euro Government Bond Index Fund

Euro Investment Grade Bond Index Fund

Barclays Global Aggregate

U.S. Government Float Adjusted Bond Index
Barclays Global Aggregate
U.S. Credit Float Adjusted Bond Index
Barclays Euro Government Float Adjusted Bond
Index
Barclays Euro Non-Government Float Adjusted
Index

5,105

0.15

0.20

0.20

957

0.20

0.25

1,480

0.25

0.30

0.50

4,269

0.20

0.25

2,261

0.25

0.30

0.30

Minimum initial investment: $500,000 institutional share class; $100,000 investor share class.
1 Closed to new investors

FOR ACCREDITED AND INSTITUTIONAL INVESTOR AND FINANCIAL PROFESSIONAL USE ONLY. NOT FOR PUBLIC DISTRIBUTION.

Ongoing charges
Total assets
Purchase
figure (%)
USD Institutional Investor
fee (%)

Vanguard Offshore portfolios At a glance

Vanguard fund

Benchmark

Fixed income
Eurozone Inflation-Linked Bond Index Fund
U.K. Investment Grade Bond Index Fund

Barclays Global Inflation -Linked: Eurozone - Euro CPI Index

1,264

0.20

0.25

Barclays GBP Non-Government Float Adjusted Bond Index

2,135

0.06

0.15

0.50

20+ Year Euro Treasury Index Fund

Barclays Euro Treasury 20+ Year Index

824

0.25

Japan Government Bond Index Fund

Barclays Japan Government Float Adjusted Bond Index

604

0.20

0.25

91

0.25

0.30

839

0.15

0.20

0.20

Barclays U.K. Government Float Adjusted Bond Index

1,529

0.06

0.15

Barclays Global Aggregate 500MM U.K. Non-Government

1-5Y Float Adjusted Bond Index

1,340

0.05

0.15

0.30

U.S. Ultra-Short-Term Bond Fund

BofA Merrill Lynch 6-month Treasury Bill Index

Global Short-Term Bond Index Fund

U.K. Government Bond Index Fund

U.K. Short-Term Investment Grade Bond

3
Index Fund

Barclays Global Aggregate 1-5 Years ex US MBS Float

Adjusted Bond Index

Total returns (%)Institutional USD shares

Average annual total returns

Vanguard fund (Inception date)

1Q 2016

1 year

3 years

5 years

10 years

Since
inception

Global Stock Index Fund (4 Aug 1998)

- 0.40

- 3.63

6.63

6.28

4.02

4.25

MSCI World Index

- 0.35

- 3.45

6.82

6.51

4.27

4.44

Global Small-Cap Index Fund (10 Dec 2009)

0.64

- 4.17

6.78

6.11

10.23

MSCI World Small Cap Index

0.67

- 3.91

7.05

6.38

10.53

U.S. 500 Stock Index Fund (4 Nov 1998)

1.16

1.09

10.98

10.65

6.13

4.75

S&P 500 Index (with 70% of dividend)

1.18

1.12

11.12

10.86

6.33

7.40

European Stock Index Fund (14 Sep 1998)

- 2.54

- 8.42

2.67

2.07

2.01

3.67

MSCI Europe Index

- 2.51

- 8.44

2.71

2.07

2.05

-3.55

Eurozone Stock Index Fund (27 Feb 2014)

- 2.11

-8.22

-6.05

MSCI EMU Index

Emerging Markets Stock Index Fund (27 Feb 2014)

- 2.09

- 8.36

-6.29

-12.15

5.59

-4.38

5.71

-12.03

2.38

Japan Stock Index Fund (22 Oct 2003)

- 6.58

- 7.30

3.57

3.72

- 0.69

3.03

MSCI Japan Index

- 6.52

- 7.06

3.84

4.03

- 0.42

3.26

Pacific ex-Japan Stock Index Fund (22 Jul 2005)

1.81

- 9.88

- 3.21

0.40

5.60

6.29

MSCI Pacific ex Japan Index

1.81

- 9.65

- 2.95

0.68

5.60

6.26

- 2.31

- 8.04

-7.88

-2.43

-8.00

-7.89

SRI Global Stock Fund (2 Sep 2014)

- 0.48

- 3.83

-2.28

FTSE Developed Index

- 0.26

- 3.39

-1.90

Benchmark

Index equity

MSCI Emerging Markets Index

SRI European Stock Fund (2 Sep 2014)

FTSE Developed Europe Index

The performance data shown represent past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, so
investors' shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data cited.
For performance data current to the most recent month-end, visit our website at vanguard.com/americas.

1 Income and accumulation shares expense ratio is 0.15%.

2 On 20 July 2009, the Fund, then Vanguard Prime Liquidity Money Market Fund, changed its name, investment objective and strategies.
3 Income and accumulation shares expense ratio is 0.15%.

FOR ACCREDITED AND INSTITUTIONAL INVESTOR AND FINANCIAL PROFESSIONAL USE ONLY. NOT FOR PUBLIC DISTRIBUTION.

Total returns (%)Institutional USD shares

Period ending 31 March 2016
Average annual total returns

Vanguard fund (Inception date)

Benchmark

1Q 2016

1 year

3 years

5 years

10 years

Since
inception

Active and quantitative equity

- 1.73

Global Enhanced Equity Fund (18 Apr 2007)

- 3.73

7.85

7.99

3.67
2.65

MSCI World Index

- 0.35

- 3.45

6.82

6.51

U.S. Discoveries Fund 1 (1 Jul 2004)

- 8.64

- 19.36

6.74

8.90

6.76

8.98

Spliced Russell Microcap Growth Index/Granahan Investment Mgmt.

- 8.82

- 17.07

6.60

6.28

3.42

5.28

U.S. Fundamental Value Fund 1 (3 May 2005)

- 1.24

- 6.72

7.35

7.79

2.70

3.93

1.43

- 2.28

8.60

9.44

4.91

5.78

- 2.46

- 1.95

16.19

14.11

10.90

13.08

0.81

- 0.93

10.51

10.36

6.27

7.50

Global Bond Index Fund USD Hedged (31 Mar 2008)

3.29

2.23

3.58

4.48

4.33

Spliced Barclays Global Aggregate Float Adjusted Bond Index

3.29

2.30

3.73

4.64

4.54

U.S. Government Bond Index Fund (31 Jan 2002)

3.13

2.20

1.91

3.29

4.44

4.38

Spliced Barclays Global Aggregate U.S. Government Float Adjusted Bond Index

3.14

2.37

2.11

3.45

4.54

4.50

U.S. Investment Grade Credit Index Fund (16 Dec 2004)

3.63

1.23

2.71

4.73

5.48

4.95

3.63

1.22

2.80

4.79

5.51

4.97

8.25

6.75

6.90

8.29

6.95

7.12

Euro Investment Grade Bond Index Fund (29 Sep 2000)

2.24

0.22

3.80

5.42

4.45

4.90

Spliced Euro Investment Grade Float Adjusted Bond Index 5

2.29

0.38

3.92

5.54

4.63

5.16

Eurozone Inflation-Linked Bond Index Fund (31 May 2005)

1.03

-2.89

4.40

5.06

3.87

3.51

Barclays Global Inflation-Linked: Eurozone - Euro CPI Index

1.08

-2.65

4.60

5.25

4.02

3.66

Russell 1000 Value Index/Pzena Investment Mgmt.

U.S. Opportunities Fund (8 Apr 2002)
Russell 3000 index/PRIMECAP Investment Mgmt.

Index fixed income and money market

Spliced Barclays Global Aggregate U.S. Credit Float Adjusted Index

Euro Government Bond Index Fund (10 Mar 2015)

Spliced Euro Government Float Adjusted Bond Index

3.16

0.38

4.83

7.14

5.78

Barclays Global Aggregate GBP Non-Government Index

3.15

0.39

4.84

7.07

5.79

20+ Year Euro Treasury Index Fund 3 (29 Aug 2007)

12.67

- 3.96

12.09

12.09

8.62

Barclays Euro Aggregate Treasury 20+ Years Index (AA- and Above)

12.77

- 3.68

12.39

12.39

8.90

Japan Government Bond Index Fund (10 Mar 2015)

11.59

12.94

14.28

Spliced Barclays Global Aggregate JPY Gov't Float Adjusted Index

11.68

13.23

14.58

U.K. Investment Grade Bond Index Fund

(20 Mar 2007)

U.S. Ultra-Short-Term Bond Fund (6 May 1999)

Spliced BofA Merrill Lynch US 6 month U.S. Treasury Bill Index

0.20

0.27

0.10

0.10

1.20

1.98

0.21

0.39

0.23

0.22

1.31

1.98

Global Short-Term Bond Index Fund (31 Jan 2014)

1.24

1.58

1.84

Barclays Global Aggregate 1-5 Years ex US MBS Float Adjusted Bond Index

1.21

1.53

1.85

5.29

3.14

4.85

7.06

6.37

5.32

3.31

5.00

7.18

6.43

2.15

2.27

U.K. Government Bond Index Fund (23 Jun 2009)6

Spliced Barclays Global Aggregate U.K. Government Float Adjusted Bond Index

U.K. Short-Term Investment Grade Bond Index Fund (22 May 2013)

1.24

1.17

Barclays Global Aggregate 500MM U.K. Non- Government 1-5Y Float Adjusted

1.31

1.34

1
2
3
4
5
6
7

Investor share class.

Barclays U.S. Credit Index USD through 31 Oct 2006; Spliced Barclays GA U.S. Credit Index thereafter.
Performance reported in Euros.
Citigroup EMU Governent Bond Index in Euros through 31 Dec 2004; Spliced Euro Government Bond Index in Euros thereafter.
Citigroup Non-EGBI EuroBIG in Euros through 31 Dec 2004; Barclays Global Inflation-Linked: Eurozone Bond Index in Euros thereafter.
Performance reported on British pound sterling.
On 20 July 2009, the Fund, then Vanguard Prime Liquidity Money Market Fund, changed its name, investment objective and strategies.
Money Market Funds Average for Investor share class or Institutional Money Market Funds Average for Institutional share class through 30 June 2009; BofA Merrill Lynch 6 Month U.S. Treasury Bill Index thereafter. The performance is derived from
8
data provided by Lipper, a Thomson Reuters Company.

9 Barclays Global Aggregate U.K. Government Bond Index through 30 June 2010 and Barclays Global Aggregate U.K. Government Float Adjusted Bond Index thereafter.

FOR ACCREDITED AND INSTITUTIONAL INVESTOR AND FINANCIAL PROFESSIONAL USE ONLY. NOT FOR PUBLIC DISTRIBUTION.

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Figures are net of expenses.
Purchase fees are paid directly to the fund and are, therefore, not considered a sales load.
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INTOPB_032016