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
24 Apr 2026
27.9 Days
24 Apr 2026
27.9 Days
24 Apr 2026
Net yield
3.66%
24 Apr 2026
Yield to maturity
3.79%
24 Apr 2026
Distribution by credit quality (% of funds)
As at 24 Apr 2026
Credit Rating
Fund
A-1
30.62%
A-1+
56.89%
Cash
6.83%
Total
94.00%
Distribution by credit issuer (% of funds)
As at 24 Apr 2026
Issuers
Fund
Time Deposit
41.62%
Commercial Paper
24.03%
Bonds - Government
21.71%
Cash
6.83%
Bonds - Sovereign/Supranational/Agency
5.81%
Total
100.00%
Distribution by credit maturity (% of funds)
As at 24 Apr 2026
Maturity
Fund
Under 1 Week
43.03%
1 Week - 1 Month
18.71%
1 - 3 Months
29.40%
3 - 6 Months
8.60%
6 Months - 1 Year
0.27%
Total
100.00%
Top 10 holdings
As at 30 Apr 2026
Rank
Holding
Country
Maturity
Asset type
% Market Value
1
BRED BANQUE POPULAIRE
FR
01/05/26
Term Deposit
7.55%
2
DZ BANK AG DEUTSCHE ZENTRAL GENOSSENSCHAFTSBANK FRANKFURT AM MAIN
DE
01/05/26
Term Deposit
5.72%
3
ROYAL BANK OF CANADA (LONDON BRANCH)
GB
01/05/26
Term Deposit
5.71%
4
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA
FR
01/05/26
Term Deposit
5.71%
5
COOPERATIEVE RABOBANK UA
NL
01/05/26
Term Deposit
5.71%
6
BANK OF NOVA SCOTIA (LONDON BRANCH)
GB
01/05/26
Term Deposit
5.71%
7
AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD (LONDON BRANCH)
GB
01/05/26
Term Deposit
5.71%
8
United Kingdom Treasury Bill
GB
18/05/26
Government Bond
3.77%
9
British Pound Sterling
GB
—
Currency
3.29%
10
United Kingdom Treasury Bill
GB
05/05/26
Government Bond
3.02%
The 10 main holdings represent 51.90% of the market value
Prices and distribution
Prices
NAV Price (GBP)
£1.18
Change
+£0.000.03%
At closure 01 May 2026
NAV 52-week high
£1.18
At closure 02 May 2026
NAV 52-week low
£1.14
At closure 02 May 2026
NAV 52-week difference
£0.04
Change
+3.79%
At closure 02 May 2026
Historical Prices
-
Inception date
17 Jul 2019
Date
NAV (GBP)
01 May 2026
£1.1816
30 Apr 2026
£1.1812
29 Apr 2026
£1.1810
28 Apr 2026
£1.1809
27 Apr 2026
£1.1808
24 Apr 2026
£1.1806
23 Apr 2026
£1.1803
22 Apr 2026
£1.1802
21 Apr 2026
£1.1801
20 Apr 2026
£1.1800
Distribution history
Distribution frequency
—
Historical performance 31 Mar 2026
3.94%
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.