Vanguard FTSE All-World UCITS ETF USD Distributing

The Fund employs a passive management – or indexing – investment approach, through physical acquisition of securities, and seeks to track the performance of the performance of the FTSE All-World Index (the “Index”). The Index is comprised of large and mid-sized company stocks in developed and emerging markets. The Fund attempts to: 1. Track the performance of the Index by investing in a representative sample of Index constituent securities. 2. Remain fully invested except in extraordinary market, political or similar conditions.