Legal Disclaimers

General advice warning and details relevant to the Vanguard ETFs

Past performance is not an indication of future performance. In preparing our website content, individual circumstances, for example tax implications, have not been taken into account and it may, therefore, not be applicable to an individual’s situation. Before making an investment decision, you should consider your circumstances and whether the information on our website is applicable to your situation. This website was prepared in good faith and we accept no liability for any errors or omissions.

Vanguard Investments Australia Ltd (ABN 72 072 881 086/ AFS License 227263/ RSE License L0001335) (“Vanguard”) is the issuer of Vanguard ETFs. Vanguard is the issuer of the Prospectus on behalf of the US listed Exchange Traded Funds (“ETFs”) described in the Prospectus. Vanguard has arranged for interests in the US ETFs to be made available to Australian investors via CHESS Depositary Interests that are quoted on the AQUA market of the Australian Securities Exchange (“ASX”).

Vanguard ETFs will only be issued to Authorised Participants, that is persons who have been authorised as trading participants under the ASX Operating Rules (“Eligible Investors”). Retail investors can transact in Vanguard ETFs through a stockbroker or financial adviser on the secondary market. Investors should consider the Prospectus and Product Disclosure Statement (PDS) in deciding whether to acquire Vanguard ETFs. Retail investors can only use the Prospectus and PDS for informational purposes only. You can access the Prospectus and PDS at vanguard.com.au.

This information is intended for investors in Australia only. Information regarding the US registered products does not constitute an offer or solicitation and may not be treated as an offer or solicitation in any jurisdiction where such an offer or solicitation is against the law or to anyone to whom it is unlawful to make such an offer or solicitation, or if the person making the offer or solicitation is not qualified to do so.

The funds or securities referred to in this document are not sponsored, endorsed or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities. For any such funds or securities, the PDS, prospectus or the Statement of Additional Information contains a more detailed description of the limited relationship MSCI has with The Vanguard Group and any related funds.

“FTSE®”, “FT-SE®” and “Footsie®” are trade marks jointly owned by the London Stock Exchange Plc and The Financial Times Limited and are used by FTSE International Limited under license. "ASFA™" is a trade mark of The Association of Superannuation Funds of Australia ("ASFA"). “All World” is a trade mark of FTSE International Limited. The FTSE ASFA Australia High Dividend Yield Index and the FTSE All-World ex-US Index are calculated by FTSE. FTSE and ASFA does not sponsor, endorse or promote this product and is not in any way connected to it; and does not accept any liability in relation to its issue, operation and trading.

"Standard & Poor’s®" and "S&P®" are registered trademarks of Standard and Poor's Financial Services LLC ("S&P"). “McGraw-Hill”, and ASX® is a registered trademark of the Australian Stock Exchange Limited (“ASX”). These trademarks have been licensed for use by The Vanguard Group, Inc.  Vanguard's ETF(s) is not sponsored, endorsed, sold or promoted by S&P or ASX, and S&P and ASX make no representation, warranty or condition regarding the advisability of buying, selling or holding units/shares in the Vanguard ETF(s).

“Vanguard”, “Vanguard Investments” and the ship logo are the trademarks of The Vanguard Group, Inc.

© 2010 Vanguard Investments Australia Ltd.  All rights reserved.

U.S. Pat. No. 6,879,964 B2; 7,337,138

 

Lonsec Disclaimer
The Lonsec Limited (“Lonsec”) ABN 56 061 751 102 ratings (assigned as follows: Vanguard International Property Securities Index Fund (Hedged) – December 2008; Vanguard Australian Shares Index Fund – January 2009; Vanguard Australian Shares High Yield Fund and Vanguard Global Listed Infrastructure Funds – February 2009; Vanguard International Fixed Interest Index Fund (Hedged) – March 2009; Vanguard International Shares Index Fund (Hedged and unhedged) – April 2009; Vanguard Diversified Index Funds – May 2009; Vanguard Australian Property Securities Index Fund – July 2009) presented in this document are limited to “General Advice” and based solely on consideration of the investment merits of the financial product(s). They are not a recommendation to purchase, sell or hold the relevant product(s), and you should seek independent financial advice before investing in these product(s). The ratings are subject to change without notice and Lonsec assumes no obligation to update these documents following publication. Lonsec receives a fee from the fund manager for rating the product(s) using comprehensive and objective criteria.

Morningstar
© Copyright 2009 Morningstar Research Pty Ltd ABN: 83 062 096 342 AFSL 243161("Morningstar"). All rights reserved. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable, investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp

Standard & Poor's
To the extent that any ratings, opinions or other information of Standard & Poor’s Information Services (Australia) Pty Ltd (ABN: 17 096 167 556, Australian Financial Services Licence Number: 258896) (“Standard & Poor’s) constitutes general advice, this advice has been prepared by Standard & Poor’s without taking into account any particular person’s financial or investment objectives, financial situation or needs.  Before acting on any advice, any person using the advice should consider its appropriateness having regard to their own or their clients’ objectives, financial situation and needs. You should obtain a Product Disclosure Statement relating to the product and consider the statement before making any decision or recommendation about whether to acquire the product.  Past performance is not a reliable indicator of future performance.  Ratings can change or cease at any time and should not be relied upon without referring to the meaning of the rating.  For more information regarding ratings please call S&P Customer Service on 1300 792 553 and also refer to Standard & Poor’s Financial Services Guide at www.assirt.com.au.  Each analytic product or service of Standard & Poor’s is based on information received by the analytic group responsible for such product or service.  “S&P” and “Standard & Poor’s” are trademarks of The McGraw-Hill Companies, Inc. © 2009 Standard & Poor’s Information Services (Australia) Pty Limited