^VTC — VANGUARD SCOTTSDAL

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The Vanguard Target Retirement 2045 Fund seeks to provide capital appreciation and current income consistent with its current asset allocation. The fund invests in a mix of Vanguard's underlying stock and bond funds, with allocations adjusted over time to become more conservative as the target retirement date approaches. The fund is managed by Vanguard and is headquartered in Scottsdale, Arizona.
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