- Business
- Vanguard European Stock Index Fund Admiral Shares (VEUSX) is an open-end mutual fund that employs an indexing investment approach designed to track the performance of the FTSE Developed Europe All Cap Index, a market-capitalization-weighted benchmark comprising approximately 1,235 common stocks of large-, mid-, and small-cap companies located across 16 European countries, including the United Kingdom, France, Switzerland, Germany, the Netherlands, Sweden, Italy, Denmark, Spain, Belgium, Austria, Finland, Ireland, Norway, Poland, Portugal; the fund invests all or substantially all of its assets in the common stocks included in the index, with key holdings such as ASML Holding NV, SAP SE, Novo Nordisk A/S, Nestle SA, Roche Holding AG, AstraZeneca plc, Novartis AG, Shell plc, HSBC Holdings plc, and LVMH Moet Hennessy Louis Vuitton SE representing about 18.6% of total net assets as of late 2024. The fund targets long-term investors seeking broad exposure to developed European equity markets, with sector allocations emphasizing financials (20.0%), industrials (18.8%), health care (14.2%), consumer discretionary (12.3%), and consumer staples (8.7%); it features a low expense ratio of 0.08%, a portfolio turnover rate of 3%, and a minimum initial investment of $3,000 for Admiral Shares. Launched on August 13, 2001, and domiciled in the United States, the fund is managed by The Vanguard Group, Inc., headquartered in Malvern, Pennsylvania, with a total net assets figure of approximately $4.6 billion as of December 2024. Recent portfolio management changes include the appointment of John Kraynak, CFA, as co-portfolio manager in February 2025, alongside continuing managers Christine D. Franquin (since 2016) and Scott E. Geiger, CFA (since 2022), reflecting ongoing enhancements to the fund's oversight amid stable indexing strategies and low turnover. The prospectus dated February 28, 2025, confirms restated expense ratios and performance data through the fiscal year ended October 31, 2024, with no reported acquisitions, funding rounds, or major strategic shifts in the prior 1-2 years, underscoring the fund's focus on cost-efficient, passive replication of its European benchmark.