-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, J0Sn1Zoym6+UhBtEMGf2jXA5VJWmF2ONEwZat8CcOn6BxWV1yxJ1k1xKXamg9rvP q5JdQjLKU5z0PKnhs+QneQ== 0000932471-08-001873.txt : 20101227 0000932471-08-001873.hdr.sgml : 20101224 20080926084809 ACCESSION NUMBER: 0000932471-08-001873 CONFORMED SUBMISSION TYPE: CORRESP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20080926 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD STAR FUNDS CENTRAL INDEX KEY: 0000736054 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 BUSINESS PHONE: 6106696295 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD STAR FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: VANGUARD SPECIAL TAX ADVANTAGED RETIREMENT FUND DATE OF NAME CHANGE: 19850318 CORRESP 1 filename1.txt [SHIP LOGO VANGUARD(R)] P.O. Box 2600 Valley Forge, PA 19482-2600 610-503-5693 Natalie_S_Bej@vanguard.com September 26, 2008 Christian Sandoe, Esq. U.S. Securities and Exchange Commission via electronic filing 100 F Street, N.E. Washington, DC 20549 RE: Vanguard STAR Funds (the "Trust") File No. 2-88373 Dear Mr. Sandoe, This letter responds to your comments of September 22, 2008 on Post-Effective Amendment No. 46 to the Trust's registration statement that was filed on August 5, 2008. Comment 1: Prospectus - Fund Profile-Vanguard Developed Markets Index - ---------------------------------------------------------------------------- Fund (page 1) ------------- Comment: Why is country risk shown as a primary risk for Developed Markets Index Fund but country/regional risk is shown as a primary risk for Total International Stock Index Fund (the "Fund")? Response: We will amend the prospectus to disclose country/regional risk as a primary risk for Developed Markets Index Fund. There could be situations where that fund's benchmark index invests a large portion of assets in securities of companies in a particular region. Comment 2: Prospectus - More on the Funds (page 10) - ---------------------------------------------------------- Comment: The disclosure states that Developed Markets Index Fund will invest at least 80%, and usually all or substantially all, of its assets in the European and Pacific Stock Index Funds or other Vanguard funds that use an indexing strategy to invest in stocks of developed markets. Please explain what is meant by the phrase "other Vanguard funds." Response: As disclosed under the primary investment strategies for Developed Markets Index Fund, the fund currently seeks to track the performance of the MSCI EAFE Index by investing in two other Vanguard funds - European Stock Index and Pacific Stock Index Funds. These two underlying funds seek to track the MSCI Europe Index and the MSCI Pacific Index, which together make up the MSCI EAFE Index. If the fund Christian Sandoe, Esq. U.S. Securities and Exchange Commission September 26, 2008 Page 2 were to invest in other underlying funds under the current investment strategy, the underlying funds together would seek to track the MSCI EAFE Index. Currently, the fund only invests in the two identified funds. Comment 3: Prospectus - Investment Advisor (page 19) - ----------------------------------------------------------- Comment: Item 5(a)(1)(iii) of Form N-1A requires that the prospectus include a statement that a discussion regarding the basis for board approval of an advisory contract is available in the annual or semi-annual report. Response: We will amend the prospectus to include the statement. Comment 4: Statement of Additional Information- Investment Advisory - -------------------------------------------------------------------------- Services (page B-39) -------------------- Comment: Please update with disclosure in response to Item 15 of Form N-1A. Response: We will provide this disclosure. Comment 5: Tandy Requirements - ------------------------------------ As required by the SEC, the Fund acknowledges that: o The Fund is responsible for the adequacy and accuracy of the disclosure in the filing. o Staff comments or changes in response to staff comments in the filings reviewed by the staff do not foreclose the Commission from taking any action with respect to the filing. o The Fund may not assert staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States. Please contact me at 610-503-5693 with any questions or comments regarding the above responses. Thank you. Sincerely, Natalie S. Bej Principal The Vanguard Group, Inc. -----END PRIVACY-ENHANCED MESSAGE-----