Schroders has liquidated its Schroder GAIA CQS Credit fund after the fund shrunk to $70.6m (£41m) in size from $136m in February.
The fund was an alternative Ucits fund, sub-managed by credit specialist CQS Asset Management.
The managers of the fund were CQS Asset Management chief investment officer of credit Simon Finch and senior portfolio manager Chris Boas,
After consultation with CQS Asset Management, Schroders concluded that at its current size the fund’s strategy would be difficult to fulfil.
A Schroders spokeswoman says: “After careful analysis and review, the board of directors of Schroder GAIA has decided that it is in the best interest of investors to liquidate the fund.
“This took place on 16 April and all resulting funds were returned to investors.”