Vanguard Funds PLC Fund Data

The Fund seeks to provide long-term capital growth. The Fund employs an "active management" strategy to invest mainly in U.S. stocks, with an emphasis on companies that are considered to have prospects for rapid earnings growth. The Fund's Sub-Investment Manager, PRIMECAP Management Company ("PRIMECAP"), uses fundamental research to identify stocks that are expected to outperform the market over a three to five-year time horizon and that are available at attractive prices relative to their fundamental values. The Fund has the flexibility to invest in companies of any size, but it mostly invests in small and mid-cap stocks. The Fund may measure performance against the Russell 3000 Index (the "Index"), a market-capitalisation-weighted stock market index, composed of the top 3,000 US publically traded companies, as ranked by market capitalisation, or the total dollar value of all outstanding shares. The Fund is not otherwise constrained by or managed with reference to the Index. The Index does not define the investment universe of the Fund and the composition of the Fund may deviate significantly from that of the Index. The Fund's policy is to remain substantially invested in common stocks that are listed or traded on exchanges or markets in the United States.

The Fund seeks to provide long-term capital growth. The Fund employs an "active management" strategy to invest mainly in U.S. stocks, with an emphasis on companies that are considered to have prospects for rapid earnings growth. The Fund's Sub-Investment Manager, PRIMECAP Management Company ("PRIMECAP"), uses fundamental research to identify stocks that are expected to outperform the market over a three to five-year time horizon and that are available at attractive prices relative to their fundamental values. The Fund has the flexibility to invest in companies of any size, but it mostly invests in small and mid-cap stocks. The Fund may measure performance against the Russell 3000 Index (the "Index"), a market-capitalisation-weighted stock market index, composed of the top 3,000 US publically traded companies, as ranked by market capitalisation, or the total dollar value of all outstanding shares. The Fund is not otherwise constrained by or managed with reference to the Index. The Index does not define the investment universe of the Fund and the composition of the Fund may deviate significantly from that of the Index. The Fund's policy is to remain substantially invested in common stocks that are listed or traded on exchanges or markets in the United States.