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Vanguard - Investment strategy and policy
Personal Investors

Strategy and policy

Investment strategy

The portfolio invests in Vanguard Institutional Index Fund, which employs a “passive management”—or indexing—investment approach designed to track the performance of the Standard & Poor’s 500 Index. The index is a widely recognized benchmark of U.S. stock market performance that is dominated by the stocks of large U.S. companies. The fund attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.

Investment policy

The portfolio invests in a Vanguard fund, which follows its own investment policies.

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