The fund's investment objective is to achieve capital growth and, consistent with a gradually changing asset allocation, income returns for investors planning to retire in or within approximately five years after 2035. The fund will seek to achieve its investment objective predominantly through investment in passive, index-tracking collective investment schemes, which are managed or operated by Vanguard. Initially, the fund's portfolio will be comprised of approximately 75% by value of equity securities and 25% by value of fixed income securities. This fund is actively managed. Income is reinvested into the fund.
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