Vanguard is not offering the ETFs described in this page in the United States and this document does not constitute an offer or an invitation to apply for or acquire any interests in the ETFs in the United States. The information contained in this presentation is not intended for US persons as defined in Regulation S under the US Securities Act.



Vanguard Investments Australia Ltd ("Vanguard") is the product issuer of the Vanguard® Australian ETFs. Vanguard is the issuer of the Prospectus on behalf of the US listed Exchange Traded Funds ("ETFs") described in the Prospectus. Vanguard has arranged for interests in the US ETFs to be made available to Australian investors via CHESS Depositary Interests that are quoted on the AQUA market of ASX. Vanguard ETFs will generally only be issued to Authorised Participants, that is persons who have entered into an Authorised Participant Agreement with Vanguard. Retail investors can transact in Vanguard ETFs through a stockbroker or financial adviser on the secondary market.



Investors should consider the relevant Prospectus or Product Disclosure Statement (PDS) in deciding whether to acquire Vanguard ETFs. Retail investors can only use the Prospectus and PDS for informational purposes. We have not taken individual circumstances into account when preparing this publication so it may not be applicable to you or your clients' circumstances. You should consider your or your clients' circumstances and the relevant PDS or Prospectus before making any investment decision or recommendation. You can access the PDS or Prospectus at www.vanguard.com.au or by calling 1300 655 888. This publication was prepared in good faith and we accept no liability for any errors or omissions.



Bloomberg Finance L.P. and its affiliates (collectively, .Bloomberg.) are not affiliated with Vanguard and do not approve, endorse, review, or recommend the fund(s). BLOOMBERG and the Index are trademarks or service marks of Bloomberg and have been licensed to Vanguard. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to the Index.





© 2016 Vanguard Investments Australia Ltd (ABN 72 072 881 086 / AFSL 227263). All rights reserved.