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
£100,000.00
Investment structure
UK OEIC
Share Class Assets'
Total Assets
Strategy
Active
Asset Class
Money Market
Domicile
United Kingdom
Dividend schedule
Monthly
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
23 Jan 2026
44.5 Days
16 Jan 2026
44.5 Days
16 Jan 2026
Net yield
4.17%
16 Jan 2026
Yield to maturity
3.70%
23 Jan 2026
Distribution by credit quality (% of funds)
As at 16 Jan 2026
Credit Rating
Fund
A-1
27.28%
A-1+
68.44%
Cash
4.29%
Total
100.00%
Distribution by credit issuer (% of funds)
As at 16 Jan 2026
Issuers
Fund
U.K. Commercial Paper
33.73%
Time Deposit
29.69%
U.K. Treasury Bills
28.63%
Cash
3.87%
Other
3.66%
Covered Bonds
0.42%
Total
100.00%
Distribution by credit maturity (% of funds)
As at 16 Jan 2026
Maturity
Fund
Under 1 Week
31.54%
1 Week - 1 Month
20.78%
1 - 3 Months
35.64%
3 - 6 Months
9.81%
6 Months - 1 Year
2.23%
Total
100.00%
Top 10 holdings
As at 16 Jan 2026
Rank
Holding
Country
Maturity
Asset type
% Market Value
1
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK SA
FR
19/01/26
Money Market
9.67%
2
DZ BANK AG DEUTSCHE ZENTRAL GENOSSENSCHAFTSBANK FRANKFURT AM MAIN
DE
19/01/26
Money Market
9.67%
3
British Pound Sterling
GB
—
Currency
8.54%
4
ROYAL BANK OF CANADA
CA
19/01/26
Money Market
5.09%
5
NEDERLANDSE WATERSCHAPSBANK NV
NL
23/01/26
Commercial Paper
2.52%
6
United Kingdom Treasury Bill
GB
13/04/26
Government Bond
2.50%
7
United Kingdom Treasury Bill
GB
26/01/26
Government Bond
2.31%
8
United Kingdom Treasury Bill
GB
09/02/26
Government Bond
2.31%
9
United Kingdom Treasury Bill
GB
02/02/26
Government Bond
2.10%
10
Kingdom of the Netherlands
NL
03/02/26
Commercial Paper
2.10%
The 10 main holdings represent 46.80% of the market value
Prices and distribution
Prices
NAV Price (GBP)
£1.00
Change
+£0.000.02%
At closure 26 Jan 2026
NAV 52-week high
£1.00
At closure 27 Jan 2026
NAV 52-week low
£1.00
At closure 27 Jan 2026
NAV 52-week difference
£0.00
Change
+0.39%
At closure 27 Jan 2026
Historical Prices
-
Inception date
17 Jul 2019
Date
NAV (GBP)
26 Jan 2026
£1.0024
23 Jan 2026
£1.0022
22 Jan 2026
£1.0020
21 Jan 2026
£1.0019
20 Jan 2026
£1.0018
19 Jan 2026
£1.0017
16 Jan 2026
£1.0015
15 Jan 2026
£1.0013
14 Jan 2026
£1.0011
13 Jan 2026
£1.0011
Distribution history
Distribution frequency
Monthly
Historical performance 31 Dec 2025
4.18%
Type
Distribution amount (per unit)
Ex-dividend date
Registration date
Payable date
Income
£0.0034
02 Jan 2026
31 Dec 2025
30 Jan 2026
Income
£0.0029
01 Dec 2025
28 Nov 2025
31 Dec 2025
Income
£0.0035
03 Nov 2025
31 Oct 2025
28 Nov 2025
Income
£0.0032
01 Oct 2025
30 Sep 2025
31 Oct 2025
Income
£0.0034
01 Sep 2025
29 Aug 2025
30 Sep 2025
Income
£0.0035
01 Aug 2025
31 Jul 2025
29 Aug 2025
Income
£0.0033
01 Jul 2025
30 Jun 2025
31 Jul 2025
Income
£0.0037
02 Jun 2025
30 May 2025
30 Jun 2025
Income
£0.0036
01 May 2025
30 Apr 2025
30 May 2025
Income
£0.0035
01 Apr 2025
31 Mar 2025
30 Apr 2025
Purchase information
Currency
Base currency: GBP
Fund codes
Bloomberg: VASSTAI
Citi: PJEM
ISIN: GB00BGB6GZ57
MEX ID: VVWDB
SEDOL: BGB6GZ5
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).
As at 31 Dec 2025
Sterling Overnight Index Average
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.