New blow to 'low-cost active' funds as Schroders shuts UK Core

The group has written to investors to inform them the fund is 'uneconomical' in scale and will shut on 17 March, Investment Week, IFAonline.co.uk's sister title, can reveal. Run by Sue Noffke, Jessica Ground and Andy Simpson, the fund was launched in 2011 and marked Schroders' first attempt to offer an actively-managed equity product at a more attractive price point. The fund had a TER capped at 40 basis points, and aimed to beat its FTSE All Share benchmark by 1% per annum after fees. However, as Investment Week reported last May, low-cost active products launched by both Schroder...