Gregory Davis

The Vanguard Group, Inc. (VGI) is an independent registered investment advisor and mutual fund manager headquartered in Malvern, Pennsylvania. The firm was founded in 1975 by John Bogle. In 1976, they introduced the first indexed mutual fund, the First Index Investment Trust (now known as the Vanguard 500 Index Fund), to individual investors. VGI provides investment advisory services to Vanguard family of funds and Vanguard's non-US clients, which are comprised of the following: (1) funds established as trusts under the laws of the Province of Ontario in Canada and (2) separate account clients of Vanguard's international subsidiaries.

Vanguard Global Advisers LLC (VGA) is a SEC-registered investment advisor headquartered in Malvern, Pennsylvania. The firm was founded in 2012 and is a wholly-owned subsidiary of The Vanguard Group, Inc. VGA provides fund management and/or advisory services to pooled investment vehicles that are not registered mutual funds (Vanguard offshore funds) and separate account institutional clients of Vanguard Group's international subsidiaries.

Vanguard Fiduciary Trust Co. (VFTC) is a limited-purpose trust firm headquartered in Malvern, Pennsylvania. They are a subsidiary of The Vanguard Group, Inc. The firm serves as trustee and investment advisor for certain collective investment trusts offered by Vanguard Advisers, Inc. (VAI) as eligible investment options by some retirement plans. VAI may recommend the purchase of Vanguard collective investment trusts serviced by VFTC. Additionally, VFTC serves as directed trustee for certain employer-sponsored retirement plans covering participants. They also serve as custodians for traditional IRAs, SEP-IRAs, and Roth IRAs.

Vanguard Investments Australia Ltd. (Vanguard Australia) is an investment management firm headquartered in Melbourne, Australia. The firm was founded in 1996 and is a subsidiary of Belleisle LLC, ultimately owned by The Vanguard Group, Inc. in the US. Vanguard Australia manages several funds and personal pension plans for private and institutional investors and financial advisors. The firm is a signatory to the UN Principles for Responsible Investment (PRI).