Capturing market opportunities
with an all-in-one bond allocation

Global fixed income can offer investors a range of benefits, including diversification, income and resilience across market cycles.

With the right active approach, supported by deep expertise and disciplined risk management, the Global Core and Global Strategic Bond Funds seek to consistently deliver alpha for investors.

Our portfolio managers, Ales Koutny and Sarang Kulkarni, introduce the two new funds, which are designed to serve as core building blocks in a global bond allocation.

Why invest in Vanguard’s Global Core and Global Strategic Bond Funds?

Expert management

Our active funds benefit from the expertise of the Vanguard Fixed Income Group, one of the world’s largest fixed income managers with  more than $2.6 trillion in assets under management  across the globe1.

Investor value

Our Core and Strategic Bond Funds' ongoing charges figures (OCFs) start at just 0.25%2. By keeping costs low, our investors keep more of their returns.

Global diversification

The funds invest primarily in globally diversified portfolios of high-quality government, corporate and securitised debt.

True-to-label

We seek outperformance while staying true to the character and objective of each fund, with clear guardrails on duration and sector exposures.

Disciplined and risk-controlled approach

Vanguard’s team-based approach to active fixed income means the fund managers work closely with our in-house credit analysts, risk managers and traders to capture market opportunities.

Source: Vanguard, as at 30 June 2025.

Source: Vanguard, as at 23 July 2025. The ongoing charges figure (OCF) refers to the Institutional Plus share classes for the Vanguard Global Core Bond Fund. The OCF covers the fund manager’s costs of managing the fund. It does not include dealing costs or additional costs such as audit fees.

Learn more about the funds

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Vanguard Global Core Bond Fund

A core fixed income allocation, investing primarily in high-quality, investment-grade debt from developed markets.

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See fund details

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Vanguard Global Strategic Bond Fund

Similar to the Global Core Bond Fund, with more flexibility to invest in high yield and emerging markets bonds.

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See fund details

High-quality and diversified target asset allocation

 

Global Core Bond Fund

Global Strategic Bond Fund

Treasury/government-related 50% 40%
Securitised 15% 15%
Credit (investment-grade) 30% 30%
Credit (high yield) 5% 15%


Transparent guardrails to
manage risk effectively
 

 

Global Core Bond Fund

Global Strategic Bond Fund

High yield Maximum 10% Maximum 25%
Emerging markets +/- 10% vs. benchmark +/- 20% vs. benchmark
Duration +/- 1 year vs. benchmark +/- 1 .25 year vs. benchmark

"Global diversification is no longer just an equity story — investors now see its growing value in fixed income, driving demand for geographically diverse bond portfolios."

Ales Koutny, CFA

Portfolio Manager, Vanguard Global Core and Global Strategic Bond Funds

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Vanguard’s approach to active management

Vanguard is one of the world’s largest active managers. Our heritage in active fund management dates back to the year we were founded – 1975. For almost half a century we have strived to provide long-term alpha at a cost that represents value to investors.

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Investment risk information

The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.

Some funds invest in emerging markets which can be more volatile than more established markets. As a result the value of your investment may rise or fall.

Investments in smaller companies may be more volatile than investments in well-established blue chip companies.

Funds investing in fixed interest securities 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. 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. The level of income may fluctuate and movements in interest rates are likely to affect the capital value of bonds.

The Vanguard Global Core Bond Fund and the Vanguard Global Strategic Bond Fund may use derivatives, including for investment purposes, in order to reduce risk or cost and/or generate extra income or growth. For all other funds they will be used to reduce risk or cost and/or generate extra income or growth. The use of derivatives could increase or reduce exposure to underlying assets and result in greater fluctuations of the Funds net asset value. A derivative is a financial contract whose value is based on the value of a financial asset (such as a share, bond, or currency) or a market index.

Some funds invest in securities which are denominated in different currencies. Movements in currency exchange rates can affect the return of investments.

For further information on risks please see the “Risk Factors” section of the prospectus on our website.

Important information

For further information on the fund's investment policies and risks, please refer to the prospectus of the UCITS and to the KIID before making any final investment decisions. The KIID for this fund is available, alongside the prospectus via Vanguard’s website.

This is designed for use by, and is directed only at persons resident in the UK.

The information contained herein is not to be regarded as an offer to buy or sell or the solicitation of any offer to buy or sell securities in any jurisdiction where such an offer or solicitation is against the law, or to anyone to  whom it is unlawful to make such an offer or solicitation, or if the person making the offer or solicitation is not qualified to do so. The information is general in nature and does not constitute legal, tax, or investment advice.  Potential investors are urged to consult their professional advisers on the implications of making an investment in, holding or disposing of shares and /or units of, and the receipt of distribution from any investment.

Vanguard Investment Series plc has been authorised by the Central Bank of Ireland as a UCITS and has been registered for public distribution in certain EEA countries and the UK. Prospective investors are referred to the Funds' prospectus for further information. Prospective investors are also urged to consult their own professional advisers 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.

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

The Manager of the Ireland domiciled funds may determine to terminate any arrangements made for marketing the shares in one or more jurisdictions in accordance with the UCITS Directive, as may be amended from time-to-time.

For investors in Ireland domiciled funds, a summary of investor rights is available in English, German, French, Spanish, Dutch and Italian.