Bonds & Cash desk

Money market funds

Funds that hold short-term loans and deposits: how they compare with cash savings, what they cost and how they are treated inside ISAs.

State of play

Money market funds · Explainer

Money market funds and the 2027 ‘cash-like’ test

Money market funds hold short-term debt and aim to track money market rates, but they are investments, not deposits. From April 2027 a stocks and shares ISA can hold them only as part of a portfolio.

By TID Editorial Desk · · 6 min read

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All Start here guides

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TID Professional

The Bonds & Cash Professional room

Market view, vehicles and due diligence, regulation and tax for advisers and wealth managers. Free to verified professionals.

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TID Professional is for investment professionals. Content in this section is not suitable for private investors and should not be relied on by them.

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Market view

Where the asset class stands, with the data behind it

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Regulation and tax

FCA, HMRC and Consumer Duty changes, and what they mean for advice

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