https://personal.vanguard.com/us/insigh ... ent-062015
The fund...
The 99.5% figure is better than most other PP cash alternatives. From an orthodox PP perspective, it would be better if "government securities, and/or repurchase agreements" were instead "Treasury securities" full stop. But still, this fund is now among the best for the cash component of an orthodox PP.will be required to hold 99.5% (up from 80%) of assets in cash, government securities, and/or repurchase agreements that are collateralized solely by government securities or cash.
It's certainly better than Vanguard Prime Money Market, which has been Vanguard's sole available settlement fund for several years.