Vanguard Target Retirement 2065 Fund Accumulation Shares

The Vanguard Target Retirement 2065 Fund primarily invests over 90% of its assets in passive index-tracking funds managed by ACD and its partners. Its portfolio is diversified across a wide range of asset classes, including stocks, bonds, fixed income investments, and money market instruments. The fund holds significant positions in both UK and international companies, including those in emerging markets. For bonds, it includes UK government gilts, index-linked gilts, and investment-grade corporate bonds, as well as bonds denominated in other currencies. As the target retirement year of 2065 approaches, the fund gradually shifts its investments from higher-risk stocks to more stable, lower-risk bonds to preserve value.