Vanguard Total China Index ETF (3169)

IMPORTANT: Investment involves risk, including the loss of principal. Investors are advised to consider their own investment objectives and circumstances in determining the suitability of an investment in the Vanguard Total China Index ETF (the "Fund"). If you are in any doubt, you should seek professional advice. Investors should refer to the fund prospectus for further details, including the product features and risk factors. Investors should not base investment decisions on this marketing material alone. Investors should note:

• The Fund seeks to provide investment results that, before fees and expenses, closely correspond to the performance of the FTSE Total China Connect Index.
• The Fund concentrates its investments in Chinese securities and the PRC market may be more volatile than other markets and may be subject to a higher level of risks compared to investing in a more diversified portfolio/strategy. The value of the Fund may also be more susceptible to the adverse economic, political, policy, foreign exchange, liquidity, tax, legal or regulatory events affecting the PRC market.
• The Stock Connect is subject to quota limitations and its relevant rules and regulations are subject to change which may have potential retrospective effect. Where a suspension in the trading through the programme is effected, the Fund’s ability to invest in China A-Shares or access the PRC market through the programme will be adversely affected.
• The units of the Fund are traded on the Stock Exchange of Hong Kong Limited ("SEHK"). Their prices on the SEHK are based on secondary market trading factors, and the Fund's market prices may deviate significantly from the net asset value.
• The base currency of the Fund is RMB and distributions are made in RMB only. RMB is currently not freely convertible and is subject to exchange controls and restrictions. Non-RMB based investors are exposed to foreign exchange risk. The limited availability of RMB outside the PRC may affect the liquidity and trading price of RMB traded units.
• The market price of units traded in each HKD, RMB and USD counter may deviate from each other significantly. Further, if there is a suspension of the inter-counter transfer of units between the counters and/or any limitation on the level of services by brokers, investors will only be able to trade their units in one counter only.