Vanguard FTSE Developed World Ex-U.K. Equity Index Fund

The Fund seeks to track the performance of the FTSE Developed ex-UK Index (the Index). The Index is comprised of large and mid-sized company shares in developed markets, excluding the UK. The Fund attempts to: 1. Track the performance of the Index by investing in all constituent shares of the Index in the same proportion as the Index. 2. 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.