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Vanguard Morgan Growth Fund reorganization finalized

TheShadowTheShadow
in The Bullpen
https://www.sec.gov/Archives/edgar/data/52848/000093247119006759/merged.htm

497 1 merged.htm VANGUARD WORLD FUNDS 497


Vanguard U.S. Growth Fund

Supplement Dated April 8, 2019, to the Prospectus and Summary Prospectus Dated December 3, 2018

Reorganization of Vanguard Morgan™ Growth Fund into Vanguard U.S. Growth Fund

Effective as of the close of business on April 5, 2019, the previously announced reorganization of Vanguard Morgan Growth Fund with and into Vanguard U.S. Growth Fund is complete.

Restructuring of the Investment Advisory Team

Effective on April 8, 2019, and as previously announced, Vanguard Quantitative Equity Group (QEG) is added as an investment advisor to a portion of Vanguard U.S. Growth Fund.

QEG joins current investment advisors on the Fund, Wellington Management Company LLP; Jennison Associates LLC; Jackson Square Partners, LLC; and Baillie Gifford Overseas Ltd. As previously announced, William Blair Investment Management, LLC (William Blair) is no longer an investment advisor for the Fund. All references to William Blair and all other details and descriptions regarding William Blair’s management of certain assets of the Fund in the Prospectus and Summary Prospectus are hereby deleted in their entirety...
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