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
06 Feb 2024
Minimum initial investment
£100,000.00
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
24
30 Jan 2026
38.0 Days
23 Jan 2026
38.0 Days
23 Jan 2026
Net yield
4.16%
23 Jan 2026
Yield to maturity
3.70%
30 Jan 2026
Distribution by credit quality (% of funds)
As at 23 Jan 2026
Credit Rating
Fund
A-1
27.69%
A-1+
71.15%
Cash
1.16%
Total
100.00%
Distribution by credit issuer (% of funds)
As at 23 Jan 2026
Issuers
Fund
U.K. Commercial Paper
33.20%
Time Deposit
31.85%
U.K. Treasury Bills
27.03%
Other
6.33%
Cash
1.16%
Covered Bonds
0.42%
Total
100.00%
Distribution by credit maturity (% of funds)
As at 23 Jan 2026
Maturity
Fund
Under 1 Week
34.47%
1 Week - 1 Month
20.53%
1 - 3 Months
30.90%
3 - 6 Months
13.68%
6 Months - 1 Year
0.42%
Total
100.00%
Top 10 holdings
As at 30 Jan 2026
Rank
Holding
Country
Maturity
Asset type
% Market Value
1
DZ BANK AG DEUTSCHE ZENTRAL GENOSSENSCHAFTSBANK FRANKFURT AM MAIN
DE
02/02/26
Money Market
9.72%
2
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA
FR
02/02/26
Money Market
9.72%
3
AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD
AU
02/02/26
Money Market
8.05%
4
ROYAL BANK OF CANADA
CA
02/02/26
Money Market
4.20%
5
United Kingdom Treasury Bill
GB
27/04/26
Government Bond
4.19%
6
British Pound Sterling
GB
—
Currency
3.38%
7
United Kingdom Treasury Bill
GB
09/02/26
Government Bond
3.13%
8
United Kingdom Treasury Bill
GB
13/04/26
Government Bond
2.48%
9
United Kingdom Treasury Bill
GB
02/02/26
Government Bond
2.09%
10
Kingdom of the Netherlands
NL
03/02/26
Commercial Paper
2.08%
The 10 main holdings represent 49.10% of the market value
Prices and distribution
Prices
NAV Price (GBP)
£1.09
Change
+£0.000.01%
At closure 03 Feb 2026
NAV 52-week high
£1.09
At closure 03 Feb 2026
NAV 52-week low
£1.05
At closure 03 Feb 2026
NAV 52-week difference
£0.04
Change
+3.96%
At closure 03 Feb 2026
Historical Prices
-
Inception date
06 Feb 2024
Date
NAV (GBP)
03 Feb 2026
£1.0934
02 Feb 2026
£1.0933
30 Jan 2026
£1.0931
29 Jan 2026
£1.0929
28 Jan 2026
£1.0928
27 Jan 2026
£1.0927
26 Jan 2026
£1.0925
23 Jan 2026
£1.0924
22 Jan 2026
£1.0921
21 Jan 2026
£1.0920
Distribution history
Distribution frequency
—
Historical performance 31 Dec 2025
4.08%
All dividends are reinvested for the "Accumulation" shares.
Purchase information
Currency
Base currency: GBP
Fund codes
Bloomberg: VASTMGA
Citi: AXOZV
ISIN: GB00BFYDWM59
MEX ID: VVWDA
SEDOL: BFYDWM5
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.