The Vanguard Sterling Short-Term Money Market Fund (the “Fund”) seeks to provide stability in the value of investments, liquidity and exposure to a variety of investments that typically perform differently from one another while maximising income earned from distributions such as interest (as opposed to that derived from an increase in the value of investments).
The Fund seeks to achieve this objective by investing in short-term money market instruments including but not limited to bank certificates of deposits, commercial paper, corporate and sovereign variable and fixed rate bonds, UK Government bills, short term agreements to purchase / sell securities with an obligation to sell / repurchase the securities back at a later date (referred to as ’repurchase and reverse repurchase agreements’) and cash deposits.
The Fund is an active fund. The Fund is not recommended for investors seeking an increase in the value of investments over the long-term (more than 5 years).
These types of instruments may be issued by both UK and non-UK issuers.
The Fund may invest up to 100% of its investments in money market instruments issued or guaranteed as to principal and interest by the UK government, its agencies or instrumentalities.
Fund facts
Share class inception
17 Jul 2019
Minimum initial investment
£200,000,000.00
Investment structure
UK OEIC
Share Class Assets'
Total Assets
Strategy
Active
Asset Class
Money Market
Domicile
United Kingdom
Dividend schedule
—
Currency
GBP
Investment manager
Vanguard Asset Management, Ltd.
Europe Bond Index Team
Benchmark
Performance
Portfolio data
Characteristics
Fundamentals
Fund
As at
Number of issuers
22
13 Feb 2026
43.6 Days
13 Feb 2026
43.6 Days
13 Feb 2026
Net yield
4.12%
13 Feb 2026
Yield to maturity
3.69%
13 Feb 2026
Distribution by credit quality (% of funds)
As at 13 Feb 2026
Credit Rating
Fund
A-1
33.23%
A-1+
55.85%
Cash
10.91%
Total
100.00%
Distribution by credit issuer (% of funds)
As at 13 Feb 2026
Issuers
Fund
Time Deposit
31.60%
U.K. Commercial Paper
29.38%
U.K. Treasury Bills
23.54%
Cash
10.91%
Other
4.15%
Covered Bonds
0.42%
Total
100.00%
Distribution by credit maturity (% of funds)
As at 13 Feb 2026
Maturity
Fund
Under 1 Week
37.97%
1 Week - 1 Month
14.67%
1 - 3 Months
32.43%
3 - 6 Months
14.22%
6 Months - 1 Year
0.71%
Total
100.00%
Top 10 holdings
As at 20 Feb 2026
Rank
Holding
Country
Maturity
Asset type
% Market Value
1
DZ BANK AG DEUTSCHE ZENTRAL GENOSSENSCHAFTSBANK FRANKFURT AM MAIN
DE
23/02/26
Money Market
9.89%
2
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA
FR
23/02/26
Money Market
6.26%
3
ROYAL BANK OF CANADA (LONDON BRANCH)
GB
23/02/26
Money Market
5.81%
4
AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD (LONDON BRANCH)
GB
23/02/26
Money Market
5.77%
5
United Kingdom Treasury Bill
GB
27/04/26
Government Bond
4.21%
6
COOPERATIEVE RABOBANK UA
NL
23/02/26
Money Market
4.17%
7
BRED BANQUE POPULAIRE
FR
23/02/26
Money Market
4.17%
8
British Pound Sterling
GB
—
Currency
3.56%
9
United Kingdom Treasury Bill
GB
13/04/26
Government Bond
3.32%
10
United Kingdom Treasury Bill
GB
16/03/26
Government Bond
2.08%
The 10 main holdings represent 49.30% of the market value
Prices and distribution
Prices
NAV Price (GBP)
£1.17
Change
+£0.000.01%
At closure 24 Feb 2026
NAV 52-week high
£1.17
At closure 24 Feb 2026
NAV 52-week low
£1.13
At closure 24 Feb 2026
NAV 52-week difference
£0.05
Change
+3.96%
At closure 24 Feb 2026
Historical Prices
-
Inception date
17 Jul 2019
Date
NAV (GBP)
24 Feb 2026
£1.1737
23 Feb 2026
£1.1736
20 Feb 2026
£1.1734
19 Feb 2026
£1.1732
18 Feb 2026
£1.1730
17 Feb 2026
£1.1729
16 Feb 2026
£1.1728
13 Feb 2026
£1.1726
12 Feb 2026
£1.1723
11 Feb 2026
£1.1722
Distribution history
Distribution frequency
—
Historical performance 31 Jan 2026
4.07%
All dividends are reinvested for the "Accumulation" shares.
Purchase information
Currency
Base currency: GBP
Fund codes
Bloomberg: VASSTIP
Citi: PJEK
ISIN: GB00BFYDWN66
MEX ID: VVWDC
SEDOL: BFYDWN6
The sum of investment management fees (the fees paid to the portfolio manager to invest your money and manage the fund) and administrative and other expenses (which cover all costs and expenses connected with the operation of the fund, which includes administrative fees, shareholder's registration and transfer agency fees, custody fees and all other operating expenses).
Weighted average life (WAL) of an amortizing loan or amortising bond, also called average life, is the weighted average of the times of the principal repayments: it's the average time until a dollar of principal is repaid.
Weighted average maturity (WAM) is the weighted average amount of time until the maturities on mortgages in a mortgage-backed security (MBS). This term is used more broadly to describe maturities in a portfolio of debt securities, including corporate debt and municipal bonds.