Vanguard Global Government Bond Index Institutional Plus GBP Hedged Acc

The Fund employs a passive management – or indexing – investment approach, through physical acquisition of securities, and seeks to track the performance of the Bloomberg Global Treasury Developed Countries Float Adjusted Index (the “Index”). The Index is designed to reflect the universe of float adjusted fixed-rate investment-grade local currency government debt of developed (as determined by the Index provider) countries. The bonds must have a maturity of at least one year. The Fund attempts to: 1. Track the performance of the Index by investing in a portfolio of securities that, insofar as possible and practicable, consists of a representative sample of the component securities of the Index. 2. Remain fully invested except in extraordinary market, political or similar conditions where the Fund may temporarily depart from this investment policy to avoid losses. The Fund may use derivatives in order to reduce risk or cost and/or generate extra income or growth. A derivative is a financial contract whose value is based on the value of a financial asset (such as a share, bond, or currency) or a market index. The base currency of the Fund is USD. The Fund invests in securities which are denominated in currencies other than the base currency. Movements in currency exchange rates can affect the return of investments. Currency hedging techniques are used to minimise the risks associated with movements in currency exchange rates, where the Fund invests in securities denominated in currencies other than the listing currency, but these risks cannot be eliminated entirely. As this document relates to a share class where such techniques are used, the performance (see "Performance") of this share class is shown against the currency hedged version of the Index. The Fund is appropriate for long-term investment. You should have an investment horizon of at least 3 years. Income from the Fund will be reinvested and reflected in the price of shares in the Fund. Portfolio transaction costs will have an impact on performance. Subject to certain exceptions set out in the Prospectus, Shares in the Fund can be bought or sold or exchanged on a daily basis (save on certain bank / public holidays and subject to certain restrictions described in Appendix 1 of the Prospectus or in a separate Supplement) by submitting an application in writing. A list of the days on which shares in the Fund cannot be bought or sold is available on https://fund-docs.vanguard.com/holidaycalendar-vanguard-investment-series-plc-irish-funds.pdf For further information about the objectives and investment policy of the Fund, as well as the limited relationship with the Index provider, please see Appendix 1 and Appendix 6 of the Vanguard Investment Series plc prospectus (the “Prospectus”) on our website at https://global.vanguard.com