Royal London Asset Management’s Short-Term Money Market Fund surpasses £10bn as it moves to Qualifying Money Market Fund Status

Royal London Asset Management today announced that its Short-Term Money Market Fund has exceeded £10 billion in assets under management, marking a significant milestone for one of the UK’s largest and most established liquidity solutions.

The announcement comes as the Fund has also transitioned to a Qualifying Money Market Fund (QMMF) with T+1 settlement, positioning it among a small group of UK funds to meet the new enhanced standards. 

Royal London’s Short-Term Money Market Fund has attracted strong and consistent inflows over recent years, supported by a competitive yield (currently 4.11%) a conservative investment approach and a stable and experienced team managing £21.6bn in liquidity solutions.  

Becoming a QMMF places the fund under a more robust regulatory regime designed to strengthen liquidity, enhance transparency, and ensure resilience in stressed market conditions. For investors, QMMF status provides clear, rules-based protections, while T+1 settlement offers operational efficiencies, faster access to cash, and improved alignment with evolving treasury and liquidity management frameworks. 

Craig Inches, Head of Rates & Cash at Royal London Asset Management, said: 

“Crossing £10bn is a strong endorsement from clients who value stability, strong liquidity and dependable returns. Transitioning to QMMF status was the next step in ensuring that the fund continues to meet the highest standards of resilience and transparency while offering operational benefits that matter to modern treasury teams. With T+1 settlement, clients can manage cash more efficiently and with greater certainty.” 

Client benefits of QMMF status and T+1 settlement include: 

• Enhanced investor protection: strict rules on liquidity buffers, asset quality and transparency. 
• Operational efficiency: quicker access to cash and streamlined internal treasury processes. 
• Regulatory clarity: meets the evolving requirements of institutional investors, corporates and local authorities. 

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Notes to Editors 

What is a QMMF? 

A Qualifying Money Market Fund is a designation under UK rules that sets strengthened criteria for liquidity, credit quality and diversification, ensuring the fund can meet redemptions even during stress. QMMFs also benefit from regulatory recognition for treasury operations. 

Why T+1 matters 

Most UK MMFs operate on T+2 cycles. Moving to T+1 aligns with improving settlement standards across markets, gives investors faster access to cash, and reduces settlement risk, particularly valuable for institutional investors matching cashflows. 

The views expressed are those of the author at the date of publication unless otherwise indicated, which are subject to change, and is not investment advice.