Terms and conditions of use
Vanguard may modify, suspend, discontinue, or restrict the use and availability of any portion of this Site or this entire Site at any time, without prior notice or liability. Your use of this Site may be monitored by Vanguard and used for Vanguard's internal business purposes, without liability.
The posting of content and access to this Site does not constitute, either explicitly or implicitly, any provision of investment management services or products by Vanguard Investments Singapore Pte. Ltd. This Site is solely for educational and informational purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any investment management product or service, including any security of any investment fund or to adopt any particular investment strategy or portfolio strategy. The information on this website is not investment/ tax advice, nor is it tailored to the needs or circumstances of any investor.
Any index, company, industry or market sector mentioned on this Site was done so for illustrative purposes only. Vanguard Investments Singapore Pte. Ltd. makes no representation regarding the advisability of investing in third-party products that utilize the indexes mentioned on this Site or investing in the companies, industries or market sectors mentioned on this Site.
Any examples of investment strategy or portfolio strategy mentioned on this Site are hypothetical and are intended for illustration purposes only. Any examples of investment strategy or portfolio strategy are not meant to provide or imply any particular investment strategy or portfolio strategy and are not tailored to the needs or circumstances of any individual investor.
Views expressed regarding a particular index, company, security, industry or market sector are the views of only that speaker/author as of the date indicated and do not necessarily represent the views of Vanguard Investments Singapore Pte. Ltd. Speculation or stated beliefs about future events, such as market and economic conditions, index, company, industry or security performance or other projections are "forward-looking statements". These forward-looking statements represent the beliefs of the speaker/author as of the date indicated, are subject to change at any time and do not necessarily represent the beliefs of Vanguard Investments Singapore Pte. Ltd. You should not expect that such information will be updated, supplemented or revised whether as a result of new information, changing circumstances, future events or otherwise. Any such information is not a recommendation to buy, hold or sell any funds and may not be relied on as investment advice.
You should always consult a suitably qualified financial advisor for any specific advice on your particular financial situation.
The information contained on this Site is for educational and informational purposes only, and it is not meant to forecast, imply or guarantee the future performance of any Vanguard funds.
Vanguard grants you a limited, revocable, nonexclusive, nontransferable license to view, store, bookmark, download, and print the pages within this Site solely for your personal, informational, and noncommercial use or as expressly authorized by Vanguard in writing.
- Modify, copy, screen capture, distribute, forward, transmit, post, display, perform, reproduce, publish, broadcast, license, create derivative works from, transfer, sell, or exploit any reports, data, information, content, software, RSS and podcast feeds, products, services, or other materials on, generated by or obtained from this Site, whether through links or otherwise (collectively, "Materials");
- Redeliver any page, text, image, or Materials on this Site using "framing" or other technology;
- Engage in any conduct that could damage, disable, or overburden (i) this Site, (ii) any Materials provided through this Site, or (iii) any systems, networks, servers, or accounts related to this Site, including without limitation, using devices or software that provide repeated automated access to this Site, other than those made generally available by Vanguard;
- Probe, scan, or test the vulnerability of any Materials, systems, networks, servers, or accounts related to this Site or attempt to gain unauthorized access to Materials, systems, networks, servers, or accounts connected or associated with this Site through hacking, password or data mining, or any other means of circumventing any access-limiting, user authentication or security device of any Materials, systems, networks, servers, or accounts related to this Site;
- Modify, copy, obscure, remove, or display Vanguard's name, logo, trademarks, text, notices, or images without Vanguard's express written permission. To obtain such permission, you may e-mail us at email@example.com; or
- Include the term "Vanguard," "Vanguard Investments Singapore" or any Vanguard trademark or executive's name, or any variation of the foregoing, as a meta-tag, hidden textual element, or any other indicator that creates an impression of affiliation, sponsorship, or endorsement by Vanguard.
Any unauthorized use of this Site will terminate the license granted herein and may violate applicable laws, including copyright law, trademark laws, and commercial regulations and statutes.
You may not link to this Site unless you comply with these linking conditions ("Linking Conditions"). Vanguard grants you a limited, revocable, nonexclusive right to create a hyperlink to this Site ("Link"), provided you comply at all times with the following conditions:
- The Link must resolve to Vanguard's homepage at vanguard.sg unaltered in any way;
- The text of the Link must read either " Vanguard Investments Singapore Pte. Ltd." or "www.vanguard.sg." You may not use any Vanguard logo or graphic, or any other Vanguard trademark, as part of the Link without Vanguard's express written permission; and
- The Link and surrounding context on the linking site must not: (a) falsely represent or misrepresent any relationship between the linking site and Vanguard, including suggestions of affiliation, endorsement, or sponsorship; (b) portray Vanguard or its products or services, in a false, misleading, derogatory, or otherwise offensive manner; (c) deliver the Materials in a framed environment or alter the layout, content, look, or feel of the Site (d) display a Link that does not permit successful linking to, redirection to or delivery of the applicable Vanguard website page; and (e) allow any advertising or sales communication between the Link and the corresponding Vanguard website page.
If you have created a Link that conforms to these Linking Conditions, then you also may include one or more Links to any internal or subsidiary page of this Site that is located one or several levels down from the homepages (known as "deep links"), provided, however, that all such deep links must be in close physical proximity to the Link that conforms to the Linking Conditions. You may not maintain numerous or pervasive Links to this Site.
Vanguard reserves the right to terminate any Linking program at any time and without prior notice to you.
Vanguard grants you a limited, revocable, nonexclusive right to view, store, bookmark, access, download, display, create hyperlinks to and use the Really Simple Syndication and podcast feeds (collectively, the "Feeds") offered by Vanguard solely for your personal, informational, educational, and noncommercial use or as otherwise authorized by Vanguard in writing, provided you comply at all times with the following conditions:
- You may create a hyperlink to Vanguard's Feeds, provided that (a) the hyperlink is functional and resolves directly to the applicable Vanguard website page, unaltered and unframed in any way; and (b) you provide attribution to the appropriate Vanguard website in connection with your use of the Feeds. If you provide this attribution in text, the hyperlink must read ""www.vanguard.sg". If you provide this attribution with a graphic, you must use the graphic Vanguard has incorporated into the Feeds, without alteration. Your right to use the above-referenced Vanguard graphic is limited to providing attribution to Vanguard in connection with the Feeds. You may not use any Vanguard logo or graphic, or any other Vanguard trademark, for any other purpose without Vanguard's express written permission;
- Any hyperlink to Vanguard's Feeds and the surrounding context on your site must not: (a) falsely represent or misrepresent any relationship between Vanguard and you or your site, products or services or any third party or their site, products and services, including suggestions of affiliation, endorsement or sponsorship; (b) portray Vanguard or its affiliates, or their products or services, in a false, misleading, derogatory or otherwise offensive manner; or (c) display the content of Vanguard's Feeds in a manner that does not permit successful linking to, redirection to or delivery of the applicable Vanguard website page; and
- You may not incorporate advertising into or targeted towards the content of Vanguard's Feeds or insert any intermediate page, splash page or other content or materials between any hyperlink to Vanguard's Feeds and the applicable Vanguard website page.
Any uses of Vanguard's Feeds not granted herein are strictly prohibited. Vanguard retains ownership of and all other rights in and to the Feeds, and any reports, data, information, content, software, files, products, services, links, trademarks, logos or other materials used in connection therewith.
Vanguard reserves the right, in its sole discretion, with or without cause, and without liability, to suspend, discontinue or modify any or all of its Feeds at any time and without prior notice and/or to immediately require you to cease accessing, displaying, or otherwise using any or all of the Feeds or the content of the Feeds. Vanguard will not be liable for any loss or damage whatsoever which you or any third party may suffer arising from your or any third party’s use of, inability to access or use or in connection with the Feeds.
You agree that you are solely responsible for all information, data, content, text, photographs, graphics, images, videos, messages, comments, quotations, files, documents, and any other materials that you submit, upload, post, e-mail, transmit, or otherwise make available via the Site ("User Content").
By submitting, uploading, posting, e-mailing, or transmitting User Content to the Site, you represent and warrant that either you own all right, title, and interest in and to the User Content or have express permission from the owner to copy and use such User Content for all purposes related to the Site. Vanguard does not control and is not responsible for the User Content uploaded via the Site, and Vanguard neither guarantees the accuracy, quality, or appropriateness of nor endorses any User Content submitted to the Site.
You agree not to use the Site to:
- submit, upload, post, e-mail, transmit, or otherwise make available any User Content that is unlawful, harmful, threatening, abusive, menacing, harassing, tortious, defamatory, vulgar, pornographic, obscene, offensive, blasphemous, libelous, unlawful, invasive of another’s privacy or publicity rights, hateful, or racially, ethnically, or otherwise objectionable;
- submit, upload, post, e-mail, transmit, or otherwise make available any User Content that personally attacks or is derogatory toward Vanguard as an entity, Vanguard employees, any Vanguard products or services, or any Vanguard Materials;
- harm minors in any way, including, but not limited to, submitting, uploading, posting, e-mailing, transmitting, or otherwise making available content that violates child pornography laws, child sexual exploitation laws, or laws prohibiting the depiction of minors engaged in sexual conduct;
- impersonate any person or entity, or falsely state or otherwise misrepresent your affiliation with a person or entity;
- forge headers or otherwise manipulate identifiers in order to disguise the origin of any User Content transmitted through the Site;
- submit, upload, post, e-mail, transmit, or otherwise make available any User Content that you do not have a right to make available under any law or contractual or fiduciary relationships or obligations;
- submit, upload, post, e-mail, transmit, or otherwise make available any User Content that infringes, violates, or misappropriates any patent, trademark, trade secret, copyright, or other intellectual property or proprietary right or any moral right of any party;
- submit, upload, post, e-mail, transmit, or otherwise make available any personal information or specific account details about yourself or any person or entity;
- submit, upload, post, e-mail, transmit, or otherwise make available any advertising, promotional materials, junk mail, spam, chain letters, pyramid schemes, or any other form of solicitation;
- submit, upload, post, e-mail, transmit, or otherwise make available any material that contains viruses or any other computer code, files, or programs designed to interrupt, destroy, or limit the functionality of any computer software or hardware or telecommunications equipment; or
- intentionally or unintentionally violate any applicable local, provincial, state, federal, national, or international laws, rules, regulations, decrees, acts, orders, directives, legislation, bills, or statutes.
You grant Vanguard and its affiliates, subsidiaries, directors, officers, employees, agents, licensors, and vendors a perpetual, worldwide, irrevocable, nonexclusive, fully-paid up, royalty-free, sublicensable, and transferable right and license to use, store, modify, adapt, translate, publish, display, broadcast, perform, disclose, distribute, sell, reproduce, and create derivative works from any User Content, in whole or in part, in any medium or technology throughout the world, including any inventions, concepts, techniques, know-how, ideas, or expressions of ideas arising out of or based on the User Content, for any purpose in Vanguard’s sole discretion, without the requirement of any permission from or compensation or notice, and without liability, to you or any third party.
You irrevocably waive any moral rights in and to the User Content. Vanguard shall exclusively own all right, title, and interest in and to any derivative works or inventions created by or on behalf of Vanguard that incorporate or otherwise make use of any User Content, without the requirement of any permission from or compensation or notice, and without liability, to you or any third party.
None of the User Content that you submit, upload, post, e-mail, or transmit or otherwise make available via the Site shall be subject to any confidentiality obligations by Vanguard and its affiliates, subsidiaries, directors, officers, employees, agents, licensors, and vendors. Vanguard shall not be liable in any way for any User Content or for the use or disclosure of any User Content.
You acknowledge that Vanguard and/or its vendors may or may not (but are not obligated to) monitor User Content, but that Vanguard shall have the right in its sole discretion to monitor, post, move, refuse, or remove any User Content, in whole or in part, for any reason whatsoever, without prior notice and without liability.
If you have any questions or comments about your Vanguard investments or other issues, please click Contact us at the top of any webpage.
The Materials on this Site are for your information, education, personal and noncommercial purposes only or as expressly authorized by Vanguard in writing.
Permission to use Materials (such as white papers, press releases and fact sheets) from the Site is granted, provided that (a) the copyright notice appears in all copies, (b) use of such Materials is for informational, educational, non-commercial or personal use only and will not be copied or posted on any network computer or broadcast in any media, and (c) no modifications of any Materials are made or (d) as expressly authorized by Vanguard in writing.
Vanguard’s Advisor Support section of the Site is for investment professional use only (more specific terms and conditions may apply).
In exchange for using such Materials, you agree not to hold Vanguard or its third-party information providers liable for any possible claim for damages arising from any decision you make based on the Materials made available to you through this Site.
All Materials on this Site, whether separate or compiled, including, but not limited to, text, graphics, audio clips, logos, buttons, images, digital downloads, data compilations, software, icons, html code and xml code, as well as all copyright, patent, trademark, industrial designs, trade dress, and other rights therein, are owned or licensed by Vanguard and its third-party information providers, and are protected by Singapore, United States and international intellectual property laws.
Pursuant to Section 512(c)(2) of the Copyright Revision Act, as enacted through the Digital Millennium Copyright Act, Vanguard designates an agent as described below to receive notifications of claimed copyright infringement by mail: Pamela Crocker Senior Counsel, The Vanguard Group, Inc., P.O. Box 2600, V-26, Valley Forge, PA 19482-2600.
By telephone at (610) 669-6100
By fax at (610) 669-6600
By e-mail at firstname.lastname@example.org
Please provide Vanguard with the following information when making a notification pursuant to the Digital Millennium Copyright Act:
- a description of the of the copyrighted work that you claim has been infringed or a representative list of such copyrighted works and a description of where such work(s) is (are) located on this Site
- your address, telephone number, fax number and email address
If you have any other questions or would like an alternative method of reaching us, please click Contact us at the top of any webpage.
All Vanguard graphics, logos, page headers, and service names are trademarks, service marks, or trade dress of Vanguard. Vanguard's trademarks, service marks and trade dress may not be used in connection with any product or service that is not Vanguard's, in any manner that is likely to cause confusion among customers or investors or in any manner that disparages or discredits Vanguard. Nothing contained on this Site should be construed as granting any license or right in or to any trademarks, service marks, or trade dress of Vanguard.
CGS identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2018 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.
Copyright © 2017, Citigroup Index LLC. All rights reserved. "Citigroup", "Citi" and other service marks and trademarks related to Citigroup Index LLC are trademarks and service marks of Citigroup Inc. or its affiliates, are used and registered throughout the world, and are used under license for certain purposes by Vanguard. The investment fund offered herein is not sponsored, endorsed, sold or promoted by Citigroup Index LLC ("Citigroup Index"), and Citigroup Index makes no representation regarding the advisability of investing in such fund. Reproduction of the Citigroup Index data and information in any form is prohibited except with the prior written permission of Citigroup Index. Although such data and information is believed to be reliable, Citigroup Index does not guarantee the accuracy, adequacy, completeness or availability of any data and information and is not responsible for any errors or omissions or for the results obtained from the use of such data and information. CITIGROUP INDEX GIVES NO EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. In no event shall Citigroup Index be liable for any direct, indirect, special or consequential damages in connection with any use of the Citigroup Index data and information.
All third party trademarks, service marks, and logos appearing on this Site are the exclusive property of their respective owners.
"CFA"® and "Chartered Financial Analyst"® are trademarks owned by CFA Institute.
The information on this Site is intended for Singapore residents only. Because of the global nature of the Internet, you agree to comply with all local rules with respect to your online conduct, including all laws, rules, codes, and regulations of the country in which you reside and the country from which you access this Site, including without limitation, all laws, rules, codes, regulations, decrees, acts, orders, directives, legislation, bills, and statutes pertaining to tax, contracts, intellectual property, securities, e-commerce, banking, technology, computers, fraud, and privacy. In addition, you agree to comply with all applicable laws, rules, codes, and regulations regarding the transmission of technical data exported from Singapore or the United States.
Vanguard provides third-party content and links for convenience purposes only and may terminate third-party content and links at any time or without prior notice to you.
Data and other materials appearing on this Site that are provided by third parties are believed by Vanguard to be obtained from reliable sources, but Vanguard cannot guarantee and is not responsible for their accuracy, timeliness, completeness, or suitability for use. Vanguard is not responsible for, and does not prepare, edit, or endorse, the content, advertising, products, or other materials on or available from any website owned or operated by a third party that is linked to this Site via hyperlink. The fact that Vanguard has provided a link to a third party's website does not constitute an implicit or explicit endorsement, authorization, sponsorship, or affiliation by Vanguard with respect to such website, its owners, providers, or services. You will use any such third-party content at your own risk and you agree that Vanguard is not liable for any loss or damage that you may suffer by using third-party websites or any content, advertising, products, or other materials in connection therewith.
All content on this Site is presented only as of the date published or indicated, and may be superseded by subsequent market events or for other reasons. All content on this Site is reviewed and updated with due diligence on a regular basis, however, information available on this site may become outdated. You should not expect that content on this Site will be updated, supplemented or revised whether as a result of new information, changing circumstances, future events or otherwise. In addition, you are responsible for setting the cache settings on your browser to ensure you are receiving the most recent data.
YOU EXPRESSLY UNDERSTAND AND AGREE THAT:
YOUR USE OF THIS SITE IS PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS.
TO THE FULL EXTENT PERMITTED UNDER APPLICABLE LAW, VANGUARD AND ITS AFFILIATES, SUBSIDIARIES, DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, LICENSORS, AND ANY THIRD-PARTY INFORMATION PROVIDERS AND VENDORS EXPRESSLY DISCLAIM ALL REPRESENTATIONS, WARRANTIES AND CONDITIONS, WHETHER EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION:
- ANY IMPLIED REPRESENTATIONS, WARRANTIES AND CONDITIONS OF TITLE, MERCHANTABILITY, NONINFRINGEMENT, AND FITNESS FOR A PARTICULAR PURPOSE,
- ALL WARRANTIES REGARDING SECURITY, CURRENCY, CORRECTNESS, QUALITY, ADEQUACY, ACCURACY, COMPLETENESS, RELIABILITY, PERFORMANCE, TIMELINESS, OR CONTINUED AVAILABILITY and
- ALL WARRANTIES WITH RESPECT TO ANY DELAYS OR ERRORS IN THE TRANSMISSION OR DELIVERY OF ANY MATERIALS, PRODUCTS, OR SERVICES DELAY, DIFFICULTY IN USE, COMPUTER VIRUSES, MALICIOUS CODE OR OTHER DEFECT IN THIS WEBSITE, ANY INCOMPATIBILITY BETWEEN THE WEBSITE AND THE USER’S FILES AND THE USER’S BROWSER OR OTHER SITE ACCESSING PROGRAM, OR ANY OTHER PROBLEMS EXPERIENCED BY THE USER DUE TO CAUSES BEYOND OUR CONTROL
WITH RESPECT TO (I) THE SITE; (II) ANY MATERIALS, PRODUCTS, OR SERVICES AVAILABLE ON OR THROUGH THE SITE; (III) USE OF THE SITE, MATERIALS, PRODUCTS, OR SERVICES; AND (IV) THE RESULTS OF THE USE OF THE SITE, MATERIALS, PRODUCTS, OR SERVICES.
FURTHER, VANGUARD AND ITS AFFILIATES, SUBSIDIARIES, DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, LICENSORS, AND ANY THIRD-PARTY INFORMATION PROVIDERS AND VENDORS MAKE NO GUARANTEE AS TO THE ACCURACY, VALIDITY, TIMELINESS, OR COMPLETENESS OF ANY INFORMATION ON ANY THIRD-PARTY SITE TO WHICH YOU GAIN ACCESS THROUGH A HYPERLINK OR OTHER LINK FROM THIS SITE.
EXCEPT AS PROVIDED BY LAW, NEITHER VANGUARD NOR ITS THIRD-PARTY INFORMATION PROVIDERS AND VENDORS HAS ANY RESPONSIBILITY TO MAINTAIN THE MATERIALS, PRODUCTS, OR SERVICES OFFERED ON THE SITE OR TO SUPPLY CORRECTIONS, UPDATES, OR RELEASES FOR THE SAME.
TO THE EXTENT ANY JURISDICTION DOES NOT ALLOW THE EXCLUSION OF CERTAIN REPRESENTATIONS, WARRANTIES OR CONDITIONS, SOME OF THE ABOVE EXCLUSIONS MAY NOT APPLY TO YOU. THIS WARRANTY GIVES YOU SPECIFIC LEGAL RIGHTS, AND YOU MAY HAVE OTHER RIGHTS, WHICH VARY FROM JURISDICTION TO JURISDICTION.
ANY MATERIALS DOWNLOADED OR OTHERWISE OBTAINED THROUGH THIS SITE ARE DONE AT YOUR OWN RISK. YOU ARE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR COMPUTER SYSTEM OR OTHER EQUIPMENT, OR LOSS OF DATA THAT RESULTS FROM SUCH DOWNLOAD.
NEITHER VANGUARD NOR ITS AFFILIATES, SUBSIDIARIES, DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, LICENSORS, OR ANY THIRD-PARTY INFORMATION PROVIDERS AND VENDORS WILL BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, PUNITIVE, OR EXEMPLARY DAMAGES, INCLUDING BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, REVENUE, INCOME, GOODWILL, USE, DATA, OR OTHER INTANGIBLE LOSSES, OR DAMAGES CAUSED BY THEFT, UNAUTHORIZED ACCESS, SYSTEMS FAILURE, OR COMMUNICATIONS LINE FAILURE, OR THE COST OF PROCURING SUBSTITUTE GOODS OR SERVICES, CAUSED BY THE USE OF OR INABILITY TO USE THE SITE, MATERIALS OR ANY PRODUCTS OR SERVICES PROVIDED HEREIN, MATERIALS OR ANY PRODUCTS PROVIDED BY A THIRD-PARTY OR MAINTAINED ON A THIRD-PARTY SITE THAT YOU ACCESS THROUGH A HYPERLINK FROM THIS SITE OR ANY OTHER MATTER RELATING TO THIS SITE, EVEN IF VANGUARD HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
TO THE EXTENT THAT SOME JURSIDICTIONS DO NOT ALLOW CERTAIN EXCLUSIONS OR LIMITATIONS OF DAMAGES, SOME OF THE ABOVE EXCLUSIONS OR LIMITATIONS MAY NOT APPLY TO YOU. TO THE EXTENT THAT A JURISDICTION DOES NOT PERMIT THE EXCLUSION OR LIMITATION OF LIABILITY AS SET FORTH HEREIN, THE LIABILITY OF VANGUARD AND ITS AFFILIATES, SUBSIDIARIES, DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, LICENSORS, AND ANY THIRD-PARTY INFORMATION PROVIDERS AND VENDORS IS LIMITED TO THE EXTENT PERMITTED BY LAW IN SUCH JURISDICTIONS.
© 2012 Vanguard Investments Singapore Pte. Ltd. All rights reserved.