BNY Investments is closing the BNY Mellon Index Linked Gilt fund on 11 June after the firm decided it was too small to run cost-efficiently.
The fund had shrunk to just £3.84m by the end of May 2026, prompting a review with the investment manager Newton which found it was “unlikely to reach a size to deliver sufficient cost efficiencies for shareholders”.
The fund returned 3.1% in the year to May 2026, according to data from FE fundinfo, but performance slipped over the past few months, with the fund down 4.4% in the three months to the end of May.
A spokesperson for BNY Investments said: “We can confirm that the BNY Mellon Index Linked Gilt fund will be closing on 11 June 2026. This decision, taken in the best interests of shareholders, follows a strategic review as the fund was unlikely to reach a size to deliver sufficient cost efficiencies for shareholders.
“This decision was made in consultation with the investment manager, Newton Investment Management Limited.”
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