Vanguard U.K. Long Duration Gilt Index Fund

The Fund seeks to track the performance of the Bloomberg U.K. Government 15+ Years Float Adjusted Bond Index (the Index). The Index includes UK government bonds with maturities greater than 15 years. The Fund attempts to: 1. Track the performance of the Index by investing in a representative sample of Index constituent bonds. 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.