The Fund’s investment objective is to achieve an increase in value and, consistent with a gradually changing asset allocation, hold investments that will pay out money for investors planning to retire in or within approximately five years after 2045. The Fund’s asset allocation will become more conservative as 2045 is approached and passed, moving from higher risk (such as shares) to mainly lower risk (such as bonds) investments.
The Fund will seek to achieve its investment objective by investing more than 90% of its assets in passive funds that track an index, which are managed or operated by the ACD or its associates (“Associated Schemes”). Direct investments (in transferable securities such as shares, bonds and other similar fixed income investments) may also be made.
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), as detailed above.
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.
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
Vanguard Asset Management, Ltd.
Europe Equity Index Team
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 30 Sep 2025
Percentage
FTSE Developed World ex-U.K. Equity Index Fund GBP Acc
19.39%
U.S. Equity Index Fund GBP Acc
17.95%
Global Bond Index Fund GBP Hedged Acc
17.40%
FTSE U.K. All Share Index Unit Trust GBP Acc
14.33%
Emerging Markets Stock Index Fund GBP Acc
6.01%
FTSE North America UCITS ETF (USD) Accumulating
5.95%
U.K. Government Bond Index Fund GBP Acc
5.21%
FTSE 100 UCITS ETF (GBP) Accumulating
4.31%
FTSE Developed Europe ex-U.K. Equity Index Fund GBP Acc
4.14%
U.K. Investment Grade Bond Index Fund GBP Acc
2.18%
Japan Stock Index Fund GBP Acc
2.16%
Pacific ex-Japan Stock Index Fund GBP Acc
0.95%
Total allocation percentages shown may not equal 100% due to rounding
Asset allocation
As at 30 Sep 2025
Percentage
Bond
24.80%
Stock
75.20%
Prices and distribution
Prices
NAV Price (GBP)
£248.01
Change
+£0.620.25%
At closure 29 Oct 2025
NAV 52-week high
£248.01
At closure 30 Oct 2025
NAV 52-week low
£200.23
At closure 30 Oct 2025
NAV 52-week difference
£47.78
Change
+19.27%
At closure 30 Oct 2025
Historical Prices
-
Inception date
17 Dec 2015
Date
NAV (GBP)
29 Oct 2025
£248.0141
28 Oct 2025
£247.3987
27 Oct 2025
£246.5603
24 Oct 2025
£245.1829
23 Oct 2025
£243.9026
22 Oct 2025
£242.7307
21 Oct 2025
£242.4649
20 Oct 2025
£241.9454
17 Oct 2025
£240.2278
16 Oct 2025
£240.4766
Distribution history
Distribution frequency
—
Historical performance 30 Sep 2025
1.85%
All dividends are reinvested for the "Accumulation" shares.
Purchase information
Currency
Base currency: GBP
Fund codes
Bloomberg: VAR45GA
ISIN: GB00BZ6VK898
MEX ID: VVXXG
SEDOL: BZ6VK89
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).