Business Summary

Vanguard FTSE Europe Shares ETF seeks to track the return of the FTSE Developed Europe All Cap Index (with net dividends reinvested) in Australian dollars, before taking into account fees, expenses and tax. The ETF provides low-cost exposure to securities listed in major European markets. The ETF is exposed to the fluctuating values of foreign currencies, as there will not be any hedging of foreign currencies to the Australian dollar. The Fund invests in a diversified portfolio of securities, which means the Fund is less exposed to the performance fluctuations of individual securities.