Target Retirement 2040 Fund
Target Retirement 2040 Fund - GBP Acc (VAR40GA)
Related Documents
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 Aug 2026
| Percentage | |
|---|---|
| Global Bond Index Fund GBP Hedged Acc | 19.38% |
| FTSE Developed World ex-U.K. Equity Index Fund GBP Acc | 19.15% |
| U.S. Equity Index Fund GBP Acc | 15.41% |
| FTSE U.K. All Share Index Unit Trust GBP Acc | 13.21% |
| U.K. Government Bond Index Fund GBP Acc | 6.63% |
| Emerging Markets Stock Index Fund GBP Acc | 5.56% |
| FTSE North America UCITS ETF (USD) Accumulating | 5.18% |
| FTSE 100 UCITS ETF (GBP) Accumulating | 4.16% |
| FTSE Developed Europe ex-U.K. Equity Index Fund GBP Acc | 3.66% |
| U.K. Investment Grade Bond Index Fund GBP Acc | 2.61% |
| Global Aggregate Bond UCITS ETF GBP Hedged Accumulating | 2.24% |
| Japan Stock Index Fund GBP Acc | 1.96% |
| Pacific ex-Japan Stock Index Fund GBP Acc | 0.83% |
Total allocation percentages shown may not equal 100% due to rounding
Asset allocation
As at 31 Aug 2026
| Percentage | |
|---|---|
| Bond | 30.87% |
| Short-term reserves | 0.01% |
| Stock | 69.12% |
Prices and distribution
Prices
NAV Price (GBP)
£257.88
GBPChange
-£0.94-0.36% At closure 08 Oct 2026
NAV 52-week high
£260.35
At closure 08 Oct 2026
NAV 52-week low
£230.05
At closure 08 Oct 2026
NAV 52-week difference
£30.30
Change
+11.64% At closure 08 Oct 2026
Historical Prices
-
Inception date
17 Dec 2015
| Date | NAV (GBP) |
|---|---|
| 08 Oct 2026 | £257.8761 |
| 07 Oct 2026 | £258.8112 |
| 06 Oct 2026 | £259.6800 |
| 05 Oct 2026 | £259.1064 |
| 02 Oct 2026 | £257.7655 |
| 01 Oct 2026 | £257.2671 |
| 30 Sept 2026 | £257.2721 |
| 29 Sept 2026 | £258.3185 |
| 28 Sept 2026 | £258.4070 |
| 25 Sept 2026 | £259.8498 |
Distribution history
Distribution frequency
—
Historical performance 31 Aug 2026
1.86%
All dividends are reinvested for the "Accumulation" shares.
Purchase information
Currency
Base currency:GBP
Fund codes
- Bloomberg:VAR40GA
- ISIN:GB00BZ6VK781
- MEX ID:VVXXF
- SEDOL:BZ6VK78