The Fund seeks to provide a return on your investment (through an increase in the value of, and income received from, assets held by the Fund) over the long-term (5 years or more) for investors who retired in or within approximately five years after 2015.
The Fund seeks to achieve its investment objective by investing at least 80% of its assets in a diversified portfolio of passive funds that seek to track the performance of an index, and which are managed or operated by the ACD or other companies in the Vanguard Group of Companies (“Associated Schemes”).
It is intended that the Fund will invest in Associated Schemes which (i) provide exposure to shares issued by companies worldwide; and (ii) provide exposure to government and corporate bonds and other similar fixed income investments issued worldwide. In the case of both shares and bonds, the UK will generally form one of the largest single country exposures.
The Fund is actively managed in that the Investment Adviser has discretion in respect of the Associated Schemes in which the Fund may invest and the allocations to them, each of which may change over time. The Investment Adviser manages the Fund through the pre-determined periodic rebalancing of its exposure to shares and bonds (and other similar fixed income investments).
The Fund’s asset allocation has become more conservative over time. The Fund’s strategic asset allocation gradually became conservative by increasing the weighting of lower risk (such as bonds) investments, versus higher risk investments (such as shares), with the aim of reducing its exposure to short term changes in the value of its investments and the risk of erosion in the value of the investments of the Fund. The Fund aims to have a stable investment allocation comprised of approximately 70% bonds and similar investments and 30% shares.
The Fund may also invest up to 20% of its assets directly in shares, bonds and other similar fixed income investments, which will generally be components of the indices tracked by the Associated Schemes, money market instruments and deposits.
The Fund attempts to remain fully invested and hold small amounts of cash except in extraordinary market, political or similar conditions where the Fund may temporarily depart from this investment policy to avoid losses.
Fund facts
Share class inception
17 Dec 2015
Minimum initial investment
£100,000.00
Investment structure
UK OEIC
Share Class Assets'
Total Assets
Strategy
Index
Asset Class
Multi-Asset
Domicile
United Kingdom
Dividend schedule
—
Currency
GBP
Investment manager
Global Equity Index Management (GE)
Benchmark
Vanguard Target Retirement 2015 Composite Index
The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.
Performance
Risk and Volatility
As at 31 Mar 2026
Beta
—
R²
—
Annualized Tracking Error
1 year
—
3 years
—
5 years
—
Please note Beta and R-squared data will only display for funds with 3 full years of history.
The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.
Portfolio data
Characteristics
Balanced
Fund
As at
Portfolio turnover rate
16.4%
31 Mar 2026
Cash Investment
0.5%
31 Mar 2026
Stocks
Fund
As at
Number of stocks
9
31 Mar 2026
Median market capital
58.0 B
31 Mar 2026
19.5 x
31 Mar 2026
2.3 x
31 Mar 2026
13.0%
31 Mar 2026
13.2%
31 Mar 2026
Bonds
Fund
As at
Number of bonds
13
31 Mar 2026
YTM (Yield to Maturity) effective
—
—
Average Duration
—
—
Average maturity
—
—
Medium coupon
—
—
Market allocation
-
Temporarily unavailable
-
Temporarily unavailable
Distribution by credit issuer (% of funds)
-
Temporarily unavailable
Distribution by credit maturity (% of funds)
-
Temporarily unavailable
Holdings details
As at 31 Mar 2026
Holding name
% of market value
Sector
Region
Market value
Shares
Vanguard Global Aggregate Bond UCITS ETF
19.41644%
GB
£2,977,780.59
115,948
Vanguard FTSE Developed World ex UK Equity Index Fund
19.25207%
GB
£2,952,571.01
3,720.976
Vanguard Investment Series PLC - Global Bond Index Fund
18.86643%
IE
£2,893,428.39
18,188.66
Vanguard FTSE UK All Share Index Unit Trust
5.63541%
GB
£864,268.46
2,465.557
Vanguard Investment Series PLC - US Government Bond Index Fund
3.22822%
IE
£495,092.13
4,519.73
Vanguard Investment Series PLC - US Investment Grade Credit Index Fund
2.64281%
IE
£405,311.93
3,129.37
Vanguard Investment Series PLC - Euro Government Bond Index Fund
2.45441%
IE
£376,417.22
3,017.15
Vanguard Emerging Markets Stock Index Fund/Ireland
2.34577%
IE
£359,756.79
1,058.65
Vanguard Investment Series PLC - UK Government Bond Index Fund
2.25248%
IE
£345,449.29
2,570.64
Vanguard FTSE 100 UCITS ETF
1.91796%
GB
£294,146.18
5,462
Asset allocation
As at 31 Mar 2026
Percentage
Bond
69.55%
Short-term reserves
0.46%
Stock
29.99%
Prices and distribution
Prices
NAV Price (GBP)
£171.77
Change
-£0.15-0.09%
At closure 27 Apr 2026
NAV 52-week high
£173.21
At closure 28 Apr 2026
NAV 52-week low
£155.96
At closure 28 Apr 2026
NAV 52-week difference
£17.25
Change
+9.96%
At closure 28 Apr 2026
Historical Prices
-
Inception date
17 Dec 2015
Date
NAV (GBP)
27 Apr 2026
£171.7669
24 Apr 2026
£171.9171
23 Apr 2026
£171.6589
22 Apr 2026
£171.9529
21 Apr 2026
£171.6689
20 Apr 2026
£172.1101
17 Apr 2026
£172.3025
16 Apr 2026
£171.6239
15 Apr 2026
£171.3986
14 Apr 2026
£171.2028
Distribution history
Distribution frequency
—
Historical performance 31 Mar 2026
2.10%
All dividends are reinvested for the "Accumulation" shares.
Purchase information
Currency
Base currency: GBP
Fund codes
Bloomberg: VAR15GA
ISIN: GB00BZ6VHV15
MEX ID: VVXXA
SEDOL: BZ6VHV1
The sum of investment management fees (the fees paid to the portfolio manager to invest your money and manage the fund) and administrative and other expenses (which cover all costs and expenses connected with the operation of the fund, which includes administrative fees, shareholder's registration and transfer agency fees, custody fees and all other operating expenses).
As at 31 Mar 2026
The share price of a stock divided by its per-share earnings over the past year. For a portfolio, the weighted average P/E ratio of the stocks in the portfolio. P/E is a good indicator of market expectations about a company's prospects; the higher the P/E, the greater the expectations for a company's future growth in earnings.
The price per share of a stock divided by its book value (i.e., net worth) per share. For a portfolio, the ratio is the weighted average price/book ratio of the stocks it holds.
An amount, expressed as a percentage, earned on a company's common stock investment for a specific time frame. This figure tells shareholders how effectively their money is being utilised.
The average annual rate of growth in earnings over the past five years for the stocks in a portfolio.