Stalled cross asset fund first to fall as Schroders ‘transformation’ kicks in

British asset management giant Schroders has pulled the plug on its International Selection Fund – Cross Asset Momentum strategy, closing the fund on 12 May after years of sub-par performance and dwindling investor interest.

Once managing a peak of nearly $782m (CHF 646.4m) in October 2022, the fund saw a steady exodus of capital before winding down with $273m in assets under management, according to a shareholder note seen by Citywire Selector.