British asset manager Schroder Investment Management (Schroders) has announced the closure of the Schroder Global Multi-Asset Income fund next 20 February.
This only concerns the OEIC version of the fund and not its €4.7bn AUM Luxembourg-domiciled counterpart.
The size of the fund, launched in December 2014 and with Aymeric Forest as lead manager, has not grown as anticipated, stated the manager, adding that the current amount of assets under management (£21.7m as of end December 2017) in the vehicle is “not commercially viable”. Schroders believes it is unlikely that its assets will increase to a size which improves its ongoing viability.
The firm also announced the closure of another OEIC fund, the Schroder Strategic Beta fund, on 26 April 2018 since “it is not economically viable due to its size”.