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    • Target Retirement 2040 Fund

    Target Retirement 2040 Fund - GBP Acc (VAR40GA)

    Related Documents
    NAV Price ()
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    About this fund

    Fund objectives

    • 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 planning to retire in or within approximately five years after 2040.
    • The Fund seeks to achieve its investment objective by investing at least 90% 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).
    • Initially, the Fund’s portfolio will be comprised of approximately 80% by value of shares and 20% by value of bonds and other similar fixed income investments.
    • The Fund’s strategic allocation will alter gradually as the target year is approached and passed, becoming more conservative by moving from higher risk (such as shares) to mainly lower risk (such as bonds) investments, 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. It is anticipated that, within seven years after 2040, the Fund will have a stable investment allocation comprised of approximately 70% bonds and other similar fixed income investments and 30% shares.
    • The Fund may also invest up to 10% 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
    Asset Class
    Multi-Asset
    Domicile
    United Kingdom
    Strategy
    Index
    Currency
    GBP
    Investment manager

    Global Equity Index Management (GE)

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

    Performance

    Portfolio data

    Allocation to underlying Vanguard funds

    As at 31 May 2026

    Percentage
    FTSE Developed World ex-U.K. Equity Index Fund GBP Acc 19.36%
    Global Bond Index Fund GBP Hedged Acc 19.20%
    U.S. Equity Index Fund GBP Acc 15.82%
    FTSE U.K. All Share Index Unit Trust GBP Acc 12.32%
    U.K. Government Bond Index Fund GBP Acc 6.52%
    Emerging Markets Stock Index Fund GBP Acc 5.97%
    FTSE North America UCITS ETF (USD) Accumulating 5.24%
    FTSE 100 UCITS ETF (GBP) Accumulating 4.10%
    FTSE Developed Europe ex-U.K. Equity Index Fund GBP Acc 3.63%
    U.K. Investment Grade Bond Index Fund GBP Acc 2.67%
    Global Aggregate Bond UCITS ETF GBP Hedged Accumulating 2.27%
    Japan Stock Index Fund GBP Acc 1.97%
    Pacific ex-Japan Stock Index Fund GBP Acc 0.81%

    Total allocation percentages shown may not equal 100% due to rounding

    Allocation percentages reflect the breakdown of security type.

    Asset allocation

    As at 31 May 2026

    Percentage
    Bond 30.66%
    Short-term reserves 0.11%
    Stock 69.23%

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

    Weighted equity exposures exclude any temporary cash investments and equity index derivatives. Some short-term fixed income securities are classified as cash and are excluded from the weighted bond exposures.

    Prices and distribution

    Prices

    NAV Price (GBP)
    £256.32
    Change
    +£2.160.85%
    At closure 15 Jun 2026
    NAV 52-week high
    £256.32
    At closure 16 Jun 2026
    NAV 52-week low
    £213.32
    At closure 16 Jun 2026
    NAV 52-week difference
    £43.00
    Change
    +16.78%
    At closure 16 Jun 2026
    Historical Prices

    -

    Inception date

    17 Dec 2015

    Date NAV (GBP)
    15 Jun 2026 £256.3228
    12 Jun 2026 £254.1609
    11 Jun 2026 £252.6213
    10 Jun 2026 £249.8951
    09 Jun 2026 £251.8727
    08 Jun 2026 £252.4687
    05 Jun 2026 £252.5998
    04 Jun 2026 £255.3258
    03 Jun 2026 £255.1108
    02 Jun 2026 £255.9921

    Distribution history

    Distribution frequency

    —

    Historical performance 31 May 2026

    1.89%

    All dividends are reinvested for the "Accumulation" shares.

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

    Purchase information

    Currency

    Base currency: GBP

    Fund codes

    • Bloomberg:VAR40GA
    • ISIN:GB00BZ6VK781
    • MEX ID:VVXXF
    • SEDOL:BZ6VK78

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

    SEDOL and SEDOL Masterfile® are registered trademarks of the London Stock Exchange Group PLC. SEDOL data was extracted from the London Stock Exchange SEDOL Masterfile®.