497 1 f6983d1.htm WELLESLEY INCOME FUND 497
 
Vanguard Wellesley® Income Fund
Supplement Dated September 30, 2020, to the Prospectus and Summary Prospectus Dated January 31, 2020
Important Change to Vanguard Wellesley Income Fund  
Effective at the close of business on June 30, 2021, Michael E. Stack will retire from Wellington Management Company LLP and will no longer serve as a portfolio manager for Vanguard Wellesley Income Fund.
Loren L. Moran and W. Michael Reckmeyer III, who currently serve as portfolio managers with Mr. Stack, will remain as portfolio managers of the Fund upon Mr. Stack’s retirement. The Fund’s investment objective, strategies, and policies will remain unchanged.
  © 2020 The Vanguard Group, Inc. All rights reserved.
Vanguard Marketing Corporation, Distributor.PS 27A 092020
 
Vanguard Wellesley® Income Fund
 
Supplement Dated September 30, 2020, to the Statement of Additional Information Dated January 31, 2020
Important Change to Vanguard Wellesley Income Fund
Effective at the close of business on June 30, 2021, Michael E. Stack will retire from Wellington Management Company LLP and will no longer serve as a portfolio manager for Vanguard Wellesley Income Fund.
Loren L. Moran and W. Michael Reckmeyer III, who currently serve as portfolio managers with Mr. Stack, will remain as portfolio managers of the Fund upon Mr. Stack’s retirement. The Fund's investment objective, strategies, and policies will remain unchanged.
© 2020 The Vanguard Group, Inc. All rights reserved.
Vanguard Marketing Corporation, Distributor.
SAI 27A 092020