The Infinity U.S. 500 Stock Index Fund (the “Fund”) aims for medium to long-term capital appreciation by following the performance of the US stock market through investment as a feeder fund in the Vanguard® U.S. 500 Stock Index Fund, a Fund of the Vanguard® Investment Series PLC. The Vanguard® U.S. 500 Stock Index Fund employs a "passive management"—or indexing—investment strategy designed to track the performance of the Standard & Poor’s (”S&P”) 500 Index by investing in all, or a representative sample, of the securities that make up the index, holding each stock in approximate proportion to its weighting in the index. The S&P 500 Index is a widely recognised benchmark of U.S. stock market performance that is dominated by the stocks of large U.S. companies. The Fund provides investors access to an index fund with a low startup amount and at lower cost. An index fund such as this Fund has operating expenses, and, therefore, while expected to follow its target index as closely as possible, will not be able to match the performance exactly.