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
23
28 Nov 2025
45.7 Days
28 Nov 2025
45.7 Days
28 Nov 2025
Net yield
4.32%
28 Nov 2025
Yield to maturity
3.60%
28 Nov 2025
Distribution by credit quality (% of funds)
As at 21 Nov 2025
Credit Rating
Fund
A-1
34.21%
A-1+
64.13%
Cash
1.66%
Total
100.00%
Distribution by credit issuer (% of funds)
As at 21 Nov 2025
Issuers
Fund
U.K. Treasury Bills
37.77%
Time Deposit
29.49%
U.K. Commercial Paper
24.95%
Other
5.63%
Cash
1.66%
Covered Bonds
0.49%
Total
100.00%
Distribution by credit maturity (% of funds)
As at 21 Nov 2025
Maturity
Fund
Under 1 Week
37.88%
1 Week - 1 Month
19.93%
1 - 3 Months
28.95%
3 - 6 Months
12.71%
6 Months - 1 Year
0.53%
Total
100.00%
Top 10 holdings
As at 28 Nov 2025
Rank
Holding
Country
Maturity
Asset type
% Market Value
1
DZ BANK AG DEUTSCHE ZENTRAL GENOSSENSCHAFTSBANK FRANKFURT AM MAIN
DE
01/12/25
Money Market
14.09%
2
COOPERATIEVE RABOBANK UA
NL
01/12/25
Money Market
14.09%
3
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA
FR
01/12/25
Money Market
14.09%
4
United Kingdom Treasury Bill
GB
01/12/25
Government Bond
6.15%
5
United Kingdom Treasury Bill
GB
15/12/25
Government Bond
5.02%
6
United Kingdom Treasury Bill
GB
22/12/25
Government Bond
4.93%
7
United Kingdom Treasury Bill
GB
12/01/26
Government Bond
4.19%
8
United Kingdom Treasury Bill
GB
26/01/26
Government Bond
3.44%
9
United Kingdom Treasury Bill
GB
05/01/26
Government Bond
3.27%
10
United Kingdom Treasury Bill
GB
08/12/25
Government Bond
3.14%
The 10 main holdings represent 72.40% of the market value
Prices and distribution
Prices
NAV Price (GBP)
£1.16
Change
+£0.000.01%
At closure 03 Dec 2025
NAV 52-week high
£1.16
At closure 04 Dec 2025
NAV 52-week low
£1.12
At closure 04 Dec 2025
NAV 52-week difference
£0.05
Change
+4.12%
At closure 04 Dec 2025
Historical Prices
-
Inception date
17 Jul 2019
Date
NAV (GBP)
03 Dec 2025
£1.1635
02 Dec 2025
£1.1634
01 Dec 2025
£1.1633
28 Nov 2025
£1.1631
27 Nov 2025
£1.1628
26 Nov 2025
£1.1627
25 Nov 2025
£1.1626
24 Nov 2025
£1.1624
21 Nov 2025
£1.1622
20 Nov 2025
£1.1619
Distribution history
Distribution frequency
—
Historical performance 31 Oct 2025
4.27%
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.