Investment

High Yield Australian Shares

Investment details and fees

Fund commenced 15 Jul 2004

Minimum investment amounts

Initial investment$5,000

Additional investment - cheque$1,000

Additional investment - BPAY®$100

Minimum account balance$3,000

Minimum withdrawal or switch$1,000

Fees and costs

Establishment feeNil

Application/contribution feeNil

Withdrawal feeNil

Termination feeNil

Switching feeNil

Management costs

First $50,0000.90% p.a

Next $50,0000.60% p.a

Balance over $100,0000.45% p.a

Buy spread cost (purchase)0.20%

Sell spread cost (withdrawal)0.10%

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Fund ratings

Standard & Poor's Four Stars

Investors with longer term investment objectives often have requirements for regular income and capital growth, especially retirees or those approaching retirement. The Vanguard High Yield Australian Shares Fund is an equity portfolio that provides a tax-effective income stream with the potential for capital growth in the one investment.

Who it may suit

long-term investors (usually seven years plus)
investors seeking a tax-effective income stream
retirees or those nearing retirement
self managed super funds
investors drawing down an allocated pension
higher income earners using a gearing strategy

Objectives

The Fund seeks to track the return (income and capital appreciation) of the FTSE ASFA Australia High Dividend Yield Index before taking into account Fund fees and expenses.

Benefits

Tax-effective income

targets companies expected to pay above average dividends
excludes listed property trusts as they don't offer franking benefits (relative to other companies).

Diversification and long-term capital growth potential

the FTSE ASFA Australia High Dividend Yield Index is a market capitalisation-weighted index consisting of approximately 70 companies with higher forecast dividends relative to other companies listed on the Australian Securities Exchange (ASX).
diversification rules are applied in the index to restrict the proportion of the index invested in any one industry or company. No more than 40% of the index can be invested in any one industry, and no more than 10% can be invested in any one company.

Low scaled fees

low management fees and no entry or exit fees (other than buy/sell spread costs)
scaled management fees apply to balances over $50,000

Regular savings plan

once you've opened your investment with $5,000 or more, you can use BPAY® to start a regular investment plan with as little as $100

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Managed funds up to $500,000 - Funds at a Glance*

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Cash Cash funds suit investors who prefer capital stability and regular income to long-term growth.

	Index/ Benchmark	Minimum Initial Application	Application Fee	Access to Funds	Income Distributions	Buy/Sell Spread	Management Costs
	Index/ Benchmark	Minimum Initial Application	Application Fee	Access to Funds	Income Distributions	Buy/Sell Spread	For first $50,000	For next $50,000	Balance over $100,000
Vanguard® Index Cash Plus Fund	A customised Index, the Vanguard Cash Plus Index	$5,000	Nil	Withdrawals are normally paid within four business days	Quarterly	Nil	0.70% p.a	0.50% p.a	0.35% p.a

Fixed Interest Fixed interest funds suit short to medium-term investors seeking a steady and reliable income stream.

	Index/ Benchmark	Minimum Initial Application	Application Fee	Access to Funds	Income Distributions	Buy/Sell Spread	Management Costs
	Index/ Benchmark	Minimum Initial Application	Application Fee	Access to Funds	Income Distributions	Buy/Sell Spread	For first $50,000	For next $50,000	Balance over $100,000
Vanguard® Index Diversified Bond Fund	A customised Index comprising a 40% allocation to Australian fixed interest securities (bonds) and 60% allocation to international bonds.	$5,000	Nil	Withdrawals are normally paid within four business days	Quarterly	0.16%/ 0.16%	0.75% p.a	0.50% p.a	0.35% p.a

PropertyProperty trusts suit investors with a long-term time frame (five years plus).

	Index/ Benchmark	Minimum Initial Application	Application Fee	Access to Funds	Income Distributions	Buy/Sell Spread	Management Costs
	Index/ Benchmark	Minimum Initial Application	Application Fee	Access to Funds	Income Distributions	Buy/Sell Spread	For first $50,000	For next $50,000	Balance over $100,000
Vanguard® Index Australian Property Securities Fund	S&P/ASX 300 A-REIT Index	$5,000	Nil	Withdrawals are normally paid within four business days	Half Yearly	0.20%/ 0.20%	0.90% p.a	0.60% p.a	0.35% p.a

Australian Shares Shares are high risk and generally suited to longer-term investors (seven years plus)

	Index/ Benchmark	Minimum Initial Application	Application Fee	Access to Funds	Income Distributions	Buy/Sell Spread	Management Costs
	Index/ Benchmark	Minimum Initial Application	Application Fee	Access to Funds	Income Distributions	Buy/Sell Spread	For first $50,000	For next $50,000	Balance over $100,000
Vanguard® Index Australian Shares Fund	S&P/ASX 300 Index	$5,000	Nil	Withdrawals are normally paid within four business days	Half Yearly	0.20%/ 0.10%	0.75% p.a	0.50% p.a	0.35% p.a
Vanguard® High Yield Australian Shares Fund	FTSE ASFA Australia High Dividend Yield Index	$5,000	Nil	Withdrawals are normally paid within four business days	Quarterly	0.20%/ 0.10%	0.90% p.a	0.60% p.a	0.45% p.a

International Shares International shares are high risk generally suited to longer-term investors (seven years plus)

	Index/ Benchmark	Minimum Initial Application	Application Fee	Access to Funds	Income Distributions	Buy/Sell Spread	Management Costs
	Index/ Benchmark	Minimum Initial Application	Application Fee	Access to Funds	Income Distributions	Buy/Sell Spread	For first $50,000	For next $50,000	Balance over $100,000
Vanguard® Index International Shares Fund	MSCI World ex-Australia Index in AUD	$5,000	Nil	Withdrawals are normally paid within four business days	Half Yearly	0.30%/ 0.10%	0.90% p.a	0.60% p.a	0.35% p.a
Vanguard® Index Hedged International Shares Fund	MSCI World ex-Australia Index hedged to AUD	$5,000	Nil	Withdrawals are normally paid within four business days	Half Yearly	0.35%/ 0.15%	0.90% p.a	0.60% p.a	0.35% p.a

Diversified Diversified funds allow investors to select the portfolio that best matches their risk profile.

	Index/ Benchmark	Minimum Initial Application	Application Fee	Access to Funds	Income Distributions	Buy/Sell Spread	Management Costs
	Index/ Benchmark	Minimum Initial Application	Application Fee	Access to Funds	Income Distributions	Buy/Sell Spread	For first $50,000	For next $50,000	Balance over $100,000
Vanguard® LifeStrategy® Conservative Fund	70% income and 30% growth (Weighted average of target indexes of the underlying Vanguard Wholesale Index Funds)	$5,000	Nil	Withdrawals are normally paid within four business days	Half Yearly	0.12%/ 0.09%	0.90% p.a	0.60% p.a	0.35% p.a
Vanguard® LifeStrategy® Balanced Fund	50% income and 50% growth (Weighted average of target indexes of the underlying Vanguard Wholesale Index Funds)	$5,000	Nil	Withdrawals are normally paid within four business days	Half Yearly	0.18%/ 0.12%	0.90% p.a	0.60% p.a	0.35% p.a
Vanguard® LifeStrategy® Growth Fund	30% income and 70% growth (Weighted average of target indexes of the underlying Vanguard Wholesale Index Funds)	$5,000	Nil	Withdrawals are normally paid within four business days	Half Yearly	0.23%/ 0.15%	0.90% p.a	0.60% p.a	0.35% p.a
Vanguard® LifeStrategy® High Growth Fund	10% income and 90% growth (Weighted average of target indexes of the underlying Vanguard Wholesale Index Funds)	$5,000	Nil	Withdrawals are normally paid within four business days	Half Yearly	0.26%/ 0.15%	0.90% p.a	0.60% p.a	0.35% p.a

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