INVESTMENT ADVISORY AGREEMENTInvestment Advisory Agreement • January 28th, 2013 • Vanguard Malvern Funds
THIS AGREEMENT is made as ofthis 1st day of January, 2013, between the Vanguard Malvern Funds, a Delaware statutory trust (the "Trust"), and Wellington Management Company, LLP, a Massachusetts limited liability partnership (the "Advisor").
