The fund seeks to provide a stable source of income in low-risk, high-quality, short-term money market instruments.
This makes the fund a stable and low-risk option for investors to hold their savings, while aiming for a slightly higher return than cash. It can be a useful tool as part of a cash management strategy.
Like other investments, the value of money market funds, and the income from them, may fall or rise and investors may get back less than they invested.
Typically more stable during volatile markets than other fixed income funds.
The fund’s OCF is just 0.12% (1). By keeping costs low, investors keep more of their returns.
A liquid and low-risk fund for investors to hold their savings over shorter time periods.
Invests in a variety of short-term money market instruments issued by governments around the world.
(1) As at 31 December 2024. The Ongoing Charges Figure (OCF) covers the fund manager’s costs of managing the fund. It does not include dealing costs or additional costs such as audit fees.
No, its NAV price will fluctuate slightly reflecting changes in the value of the fund’s underlying assets. This is due to the way the fund is structured. We believe this structure gives greater clarity when markets are volatile.
Other money market funds may be structured in a different way, which means the price remains fixed at £1.
The fund has over £1 billion in assets under management, as at 31 December 2024.
The fund primarily invests in short-term government debt. It may also hold a small amount of corporate debt, at the discretion of the fund manager.
Investment risk information
The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.
An investment in a money market fund is not a guaranteed investment. An investment in a money market fund is different from an investment in deposits, as the amount invested in a money market fund is capable of fluctuation. Money market funds do not rely on external support for guaranteeing the liquidity of the money market fund or stabilising the Net Asset Value per share. The risk of loss of the amount invested shall be borne by the investor.
The Fund may use derivatives in order to reduce risk or cost and/or generate extra income or growth. The use of derivatives could increase or reduce exposure to underlying assets and result in greater fluctuations of the Fund's net asset value. A derivative is a financial contract whose value is based on the value of a financial asset (such as a share, bond, or currency) or a market index.
For further information on risks please see the “Risk Factors” section of the prospectus.
Important information
For further information on the fund's investment policies and risks, please refer to the prospectus of the UCITS and to the KIID before making any final investment decisions. The KIID for this fund is available, alongside the prospectus via Vanguard’s website.
This is designed for use by, and is directed only at persons resident in the UK.
The information contained herein is not to be regarded as an offer to buy or sell or the solicitation of any offer to buy or sell securities in any jurisdiction where such an offer or solicitation is against the law, or to anyone to whom it is unlawful to make such an offer or solicitation, or if the person making the offer or solicitation is not qualified to do so. The information is general in nature and does not constitute legal, tax, or investment advice. Potential investors are urged to consult their professional advisers on the implications of making an investment in, holding or disposing of shares and /or units of, and the receipt of distribution from any investment.
The Authorised Corporate Director for Vanguard Investments Money Market Funds is Vanguard Investments UK, Limited. Vanguard Asset Management, Limited is a distributor of Vanguard Investments Money Market Funds.
SONIA is the abbreviation for the Sterling Overnight Index Average, which reflects the average of interest rates that banks pay to borrow overnight, unsecured sterling cash on a given day.
The Authorised Corporate Director for Vanguard® Investments Money Market Funds is Vanguard Investments UK, Limited. Vanguard Asset Management, Limited is a distributor of Vanguard® Investments Money Market Funds.
For investors in UK domiciled funds, a summary of investor rights can be obtained and is available in English.
