Investment objective
The Vanguard International Shares Select Exclusions Index Fund – NZD Hedged seeks to track the return of the MSCI World ex Australia, ex Tobacco, ex Controversial Weapons, ex Nuclear Weapons (with net dividends reinvested) hedged into New Zealand dollars Index before taking into account fees, expenses and tax.

Fund overview
The Fund provides exposure to many of the world’s largest companies listed in major developed countries. It offers low-cost access to a broadly diversified range of securities that excludes companies involved in the production of tobacco, controversial weapons and companies that manufacture nuclear weapons, components that were developed or significantly modified for exclusive use in nuclear weapons, and companies that provide auxiliary services related to nuclear weapons. The Fund is hedged to New Zealand dollars so the value of the Fund is relatively unaffected by currency fluctuations for New Zealand investors.