Terms of use

Carefully read the following Terms of Use before using this website. By using this website, you agree to follow and be bound by these Terms of Use. If you do not agree, do not use the website.

Company information

This website is owned and operated by, and the material on it is issued by, Vanguard Asset Management, Limited (“Vanguard”).  Vanguard is registered in England and Wales (no.07243412), and its registered office is at 4th Floor, The Walbrook Building, 25 Walbrook, London EC4N 8AF. Vanguard is authorised and regulated in the UK by the Financial Conduct Authority ("FCA"). Vanguard’s VAT number is 100 1276 85.  Vanguard is a member of a group of companies, of which the ultimate holding company is The Vanguard Group, Inc. (“VGI”), incorporated in Pennsylvania, USA (Vanguard, VGI and any company affiliated to Vanguard, “The Vanguard Group of Companies”).

These Terms of Use are specific to this website and do not relate to any website of VGI or the website of any other member of The Vanguard Group of Companies, although VGI and other members of The Vanguard Group of Companies do have certain rights under these Terms of Use, as provided for in these Terms of Use. These Terms of Use are intended to be enforceable by Vanguard and VGI and also by other members of The Vanguard Group of Companies, as well as by you.

Material on this website

This website provides general information about Vanguard and its business, including information about the services it offers. The materials on this website are for information purposes only. Nothing on this website constitutes legal, tax, or investment advice. You must not, therefore, rely on the content of this website when making any investment decisions. You alone will bear the sole responsibility of evaluating the merits and risks associated with the use of any materials on this website before making any decisions based on such materials. In exchange for using such materials, you agree not to hold Vanguard or any member of The Vanguard Group of Companies liable for any possible claim for damages arising from any decision you make based on the materials made available to you through this website.

User license

Vanguard grants you a limited, revocable, nonexclusive, nontransferable license to use, view, store, bookmark, download, display, stream and print the pages and any content within this website solely for your personal, informational and noncommercial use or as expressly authorised by Vanguard in writing. Vanguard reserves all rights not expressly granted in these Terms of Use.

Notwithstanding the foregoing, financial advisers, trust professionals, registered investment advisers, broker-dealers, nominees and other institutional trading partners (collectively, "Intermediaries") may use the data and information provided on this website for certain commercial uses with Vanguard's prior written approval or as otherwise permitted on this website, provided that such Intermediaries comply with all other terms and conditions as set forth in these Terms of Use. You are responsible for obtaining and maintaining all equipment, services, and other materials that you need to access this website. Vanguard reserves all rights not expressly granted in these Terms of Use. Except as otherwise stated in these Terms of Use or as expressly authorised by Vanguard in writing, you may not (or enable others to):

  • modify, copy, screen capture, distribute, forward, transmit, post, display, perform, reproduce, publish, broadcast, license, create derivative works from, transfer, sell or exploit any reports, data, information, content, software, products, services or other materials on, generated by or obtained from this website, whether through links or otherwise (collectively, "Materials");
  • redeliver any page, text, image, or Materials on this website using "framing" or other technology;
  • engage in any conduct that could damage, disable, or overburden (i) this website, (ii) any Materials or services provided through this website, or (iii) any systems, networks, servers, or accounts related to this website, including without limitation, using devices or software that provide repeated automated access to this website, other than those made generally available by Vanguard;
  • probe, scan, or test the vulnerability of any Materials, services, systems, networks, servers, or accounts related to this website or attempt to gain unauthorised access to Materials, services, systems, networks, servers, or accounts connected or associated with this website through hacking, password or data mining, or any other means of circumventing any access-limiting, user authentication or security device of any Materials, services, systems, networks, servers, or accounts related to this website;
  • modify, copy, obscure, remove, or display the name, logo, trademarks, text, notices, or images of any of The Vanguard Group of Companies without their express written permission. To obtain such permission, you may email us at: intellectualproperty@vanguard.com; or
  • include the term "Vanguard," any VGI trademark, the name of any executive of The Vanguard Group of Companies, or any variation of the foregoing, as a meta-tag, hidden textual element, or any other indicator that creates an impression of affiliation, sponsorship, or endorsement by Vanguard and/or The Vanguard Group of Companies.

Linking conditions

You may not link to this website unless you comply with these linking conditions ("Linking Conditions"). Vanguard grants you a limited, revocable, nonexclusive right to create a hyperlink to this website ("Link"), provided you comply at all times with the following conditions:

  • the Link must resolve only to Vanguard’s homepage of this website. Linking to other content within this website is prohibited without Vanguard's express written permission.
  • the text of the Link must read either "Vanguard Asset Management" or "www.vanguard.co.uk". You may not use any VGI logo or graphic, or any other VGI trademark, as part of the Link without Vanguard's express written permission.
  • the Link and surrounding context on the linking website must not: (a) falsely represent or misrepresent any relationship between the linking website and The Vanguard Group of Companies, including suggestions of affiliation, endorsement or sponsorship; (b) portray The Vanguard Group of Companies, or their products or services, in a false, misleading, derogatory or otherwise offensive manner; or (c) alter the layout, content, look or feel of this website. You may not maintain numerous or pervasive links to this website.

We reserve the right to withdraw linking permission without notice.

User content

You agree that you are solely responsible for all information, data, content, text, photographs, graphics, images, videos, messages, comments, quotations, files, documents, and any other materials that you submit, upload, post, email, transmit, or otherwise make available via this website ("User Content"). By submitting, uploading, posting, emailing, or transmitting User Content to this website, you represent and warrant that either you own all right, title, and interest in and to the User Content or have express permission from the owner to copy and use such User Content for all purposes related to this website. Vanguard, VGI and other members of The Vanguard Group of Companies do not control and are not responsible for the User Content uploaded via this website, and Vanguard, VGI and other members of The Vanguard Group of Companies neither guarantee the accuracy, quality, or appropriateness of nor endorse any User Content submitted to this website.

You grant Vanguard, VGI and other members of The Vanguard Group of Companies and each of their affiliates, subsidiaries, directors, officers, employees, agents, licensors, and vendors a perpetual, worldwide, irrevocable, nonexclusive, fully paid up, royalty-free, sublicensable, and transferable right and licence to use, store, modify, adapt, translate, publish, display, broadcast, perform, disclose, distribute, sell, reproduce, and create derivative works from any User Content, in whole or in part, in any medium or technology throughout the world, including any inventions, concepts, techniques, know-how, ideas, or expressions of ideas arising out of or based on the User Content, for any purpose in the sole discretion of Vanguard, VGI and other members of The Vanguard Group of Companies, without the requirement of any permission from or compensation or notice, and without liability, to you or any third party. Vanguard, VGI and other members of The Vanguard Group of Companies shall exclusively own all right, title, and interest in and to any derivative works or inventions created by or on behalf of Vanguard, VGI and other members of The Vanguard Group of Companies that incorporate or otherwise make use of any User Content, without the requirement of any permission from or compensation or notice, and without liability, to you or any third party.

None of the User Content that you submit, upload, post, email, or transmit or otherwise make available via this website shall be subject to any confidentiality obligations by Vanguard, VGI and other members of The Vanguard Group of Companies and each of their affiliates, subsidiaries, directors, officers, employees, agents, licensors, and vendors. Except as may be provided by applicable laws, Vanguard, VGI and other members of The Vanguard Group of Companies shall not be liable in any way for any User Content or for the use or disclosure of any User Content.

You acknowledge that Vanguard, VGI and other members of The Vanguard Group of Companies and/or their vendors may or may not (but are not obligated to) monitor User Content, but that Vanguard, VGI and other members of The Vanguard Group of Companies shall have the right in their sole discretion to monitor, post, move, refuse, or remove any User Content, in whole or in part, for any reason whatsoever, without notice and without liability.

Third-party content

The website may provide third party content, which Vanguard believes is obtained from reliable sources. Vanguard, however, does not guarantee and is not responsible for the accuracy, timeliness, completeness, or suitability for use of such third-party content. Further, Vanguard is not responsible for and does not prepare, edit, or endorse the content, advertising, products, or other materials on or available from any website owned or operated by a third party that is linked to this website via hyperlink.  You will use any such third party content at your own risk.

Timeliness of content

All content on this website is presented only as of the date published or indicated and may be superseded by subsequent market events or for other reasons. You are responsible for setting the cache settings on your browser to ensure you are receiving the most recent data. 

User identification code

You may be provided with a user log in and/or user identification code and password to access this website or certain parts of it. You must treat this information as confidential and you must not disclose it to any third party or allow any third party to access this website using your user log in, user identification code or password. You are responsible for any use of this website by any third party to whom you have disclosed your user log in, user identification code and/or password. You agree to notify Vanguard immediately if you suspect any unauthorised use of this website or of your user identification code or password.

Notices

Products and services provided to you through this website may involve the electronic transmission, including via any e-mail address you provide to us, of information that you may consider to be personal financial information or promotional and marketing materials, and you consent to such transmission.

Privacy policy

Vanguard’s Privacy Policy applies to its use and collection of your data from the website. You should review the Privacy policy before using the website.

Cookie policy

Vanguard’s Cookie Policy applies to your use of the website. You should review the Cookie policy before using the website.

Intellectual property

All materials on this website are owned or licenced for use by VGI, Vanguard Investments Switzerland GmbH, and/or their third-party information and content providers and are protected by applicable copyright, trademark, and other intellectual property laws.

VANGUARD®, V®, VANGUARD CAPITAL MARKETS MODEL®, CONNECT WITH VANGUARD®, LIFESTRATEGY®, LIFETARGET®, SUSTAINABLELIFE® and ADVISOR’S ALPHA® are registered trademarks owned by VGI and used by Vanguard Asset Management, Limited under licence. Nothing contained on this website should be construed as granting any licence or right in or to these registered trademarks.  All other trademarks, service marks and logos appearing on this website are the exclusive property of their respective owners.

Pursuant to Section 512(c)(2) of the Copyright Revision Act, as enacted through the Digital Millennium Copyright Act, Vanguard designates an agent as described below to receive notifications of claimed copyright infringement by mail: Pamela Crocker, Associate General Counsel, The Vanguard Group, Inc., P.O. Box 2600, V-26, Valley Forge, PA 19482-2600, United States of America.

Compliance with laws/international use

This website will not be considered a solicitation for or offering of any investment product or service to any person in any jurisdiction where such solicitation or offering would be illegal. The distribution of the information contained in this website in certain countries may be restricted by law and, accordingly, persons who access it are required to inform themselves about and to comply with any such restrictions. When using this website, you must comply with all applicable local, national and international laws and regulations, including those related to data privacy, international communications and exportation of technical or personal data. It may be illegal to download the information contained on this website in certain countries and Vanguard and each other member of The Vanguard Group of Companies disclaims all responsibility if you download any information from this website in breach of any law or regulation of the country in which you reside.

Modifications

Vanguard may periodically modify, add or remove portions of these Terms of Use, and any such modifications will be effective immediately upon posting. You agree to periodically review these Terms of Use for modifications.

Termination and suspension

Vanguard, in its sole discretion, reserves the right to temporarily or permanently suspend or terminate your access to and use of this website or any related functionality at any time and for any reason whatsoever, without notice or liability. The rights granted to you herein terminate immediately upon your violation of any of these Terms of Use. Vanguard will not be liable to you or any third party for any suspension or termination of your access to or use of this website.

Warranty disclaimers  

There are no implied or express warranties on the materials in this website; they are provided "as is." 

Vanguard disclaims, to the fullest extent permitted by law, all implied or express warranties, including, but not limited to, implied warranties of merchantability and fitness for a particular purpose.

Vanguard does not warrant that the functions contained in the materials will be uninterrupted or error-free, that defects will be corrected, or that this website or the server that makes it available are free from viruses or other harmful components.

Limitation of liability and indemnity

You expressly understand and agree that your use of this website is provided on an "as is" and "as available" basis. Vanguard does not accept any liability if for any reason this website is unavailable at any time or for any period.

Information and opinions contained on this website have been compiled or arrived at by Vanguard from sources believed to be reliable. However, to the extent permitted by law, Vanguard and, each other member of The Vanguard Group of Companies and other third parties affiliated to Vanguard hereby expressly exclude all conditions, warranties, representations and other terms which might otherwise be implied by statute, common law or the law of equity and any liability for any direct, indirect, incidental, special, punitive, exemplary or consequential loss or damage of any kind incurred by any user in connection with this website or in reliance on the information or opinions contained in it or by anyone who may be informed of any of the contents of this website at any time, or by any user or any such other person in connection with the use, inability to use, or results of the use of this website or any sites linked to it or materials posted on it. This does not affect Vanguard's liability for any loss or damage which cannot be excluded or limited under applicable law and does not exclude or restrict any duty or liability that Vanguard has to any person under the regulatory system in the United Kingdom.

Neither Vanguard nor its affiliates, subsidiaries, directors, officers, employees, agents, licensors, or any third-party information providers and vendors will be liable under any circumstances including but not limited to negligence for any direct, indirect, incidental, special, punitive, exemplary or consequential damages that may result from the use of, or the inability to use, the materials in this website, even if Vanguard or a Vanguard limited-authorised representative has been advised of the possibility of such damages.

The internet is not a completely reliable transmission medium and neither Vanguard nor any other member of The Vanguard Group of Companies accepts any liability for any data transmission errors such as data loss or damage or alteration of any kind or for the security or confidentiality of information transmitted across the internet to or from Vanguard or any other member of The Vanguard Group of Companies. Any such transmission of information is entirely at your own risk. This does not exclude or restrict any duty or liability that Vanguard has to any person under the regulatory system in the United Kingdom.

You agree to indemnify, defend and hold harmless The Vanguard Group of Companies, its subsidiaries and affiliates, and each of its and their officers, directors, employees and agents, from and against all claims, demands, liabilities, damages, losses or expenses, including legal fees and costs, arising out of or related to your improper access to or use of this website, or any violation by you of these Terms of Use.

Integration and severability

If any provision of these Terms of Use is deemed unlawful, void, or unenforceable, then that provision will be deemed severable from these Terms of Use and will not affect the validity and enforceability of the remaining provisions.  These Terms of Use represent the entire agreement between you and each member of The Vanguard Group of Companies relating to the subject matter herein.

Applicable law and venue  

These Terms of Use are governed by and shall be construed in accordance with the laws of England and Wales. The English courts will have non-exclusive jurisdiction over any dispute arising from, or related to, use of this website and it is a condition of using this website that you waive any objection to proceedings in such courts on the grounds of venue or that proceedings have been brought in an inconvenient forum, although each of Vanguard and each other member of The Vanguard Group of Companies retains the right to bring proceedings against you for breach of these Terms of Use in your country of residence or any other relevant country.

Issued by Vanguard Asset Management, Limited which is authorised and regulated in the UK by the Financial Conduct Authority.