About Vanguard

Awards

Morningstar Fixed Interest Fund Manager of the Year

Vanguard was recently named the Morningstar Fixed Interest Fund Manager of the Year at the 2008 Morningstar awards held in February 2009.

Morningstar determines the winners in the Fund Manager of the Year Awards by a combination of performance in 2008; risk-adjusted medium- to long-term track record; and qualitative analyst conviction.

Morningstar recognises the key elements of Vanguards investment approach; diversification, transparency and long-term commitment to the strategy through all market conditions.

Awards like these provide independent recognition that Vanguard's indexing approach has delivered a good outcome for advisers and their clients through even the most turbulent and challenging times. High quality fixed interest investments have stood the test of the global financial crisis and given investors a true safe haven.

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AFR Smart Investor League of Exceptional Service (SMILE)

In this year's AFR Smart Investor League of Exceptional Service (SMILE) awards, Vanguard received the highest rating for customer satisfaction in the fund manager category.

In a year marred by negative investment returns, AFR Smart Investor readers most valued value for money, investor communication and information from their financial institutions.

Vanguard's head of retail Robin Bowerman says Vanguard puts a lot of effort into providing frequent investor communications that are easy to understand.

"We believe investors have a right to know about the risks and costs of investing as well as the potential rewards. In the current volatile market climate, fund manager transparency is more important than ever."

Vanguard's client-first philosophy stems from its ownership structure in the United States where the company is owned by its investors rather than external shareholders.

Vanguard ranked well above other fund managers when clients were asked about the reasonableness and transparency of its fees and charges, scoring 81 per cent and 80 per cent respectively. Vanguard's retail managed fund fees are around half the industry median.

Thank you to all our clients for voting for us in this year's SMILE awards.

Smart Investor League of Exceptional Service

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Money Magazine's Best of the Best 2008

Vanguard took out three Money magazine Best of the Best awards for 2008. Money magazine draws on the analysis of three leading research houses - Morningstar, Standard & Poor's & Lonsec - to identify its Best of the Best. The awards provide independent validation of the quality of our investment approach and products.

Best Australian Property Securities Fund Vanguard® Index Property Securities
Best Balanced Fund Vanguard® LifeStrategy® Balanced
Best Growth Fund Vanguard® LifeStrategy® Growth

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Australian Financial Review Smart Investor Blue Ribbon awards 2008

Vanguard's Index Diversified Bond Fund took out top honours in this year's AFR Smart Investor Blue Ribbon awards. AFR Smart Investor magazine rated the fund best in the diversified bond class based on its performance, size and Morningstar rating.

Best Diversified Bond Vanguard® Diversified Bond