Schroders cheapest out of 1,300

What made the news on 15 November 1999

The Schroder Gilt & Fixed Interest fund was the cheapest retail investment fund in terms of total expense ratio (TER) among nearly 1,300 competitors analysed in the Unit Trust and Oeic TER Directory. The unit trust has annual management charge of just 0.25% against a total TER of 0.3% matched only by the M&G exempt unit trust Charibond. Among bond funds that came out with low TER charges was Fleming UK Select Bond, also classified as an institutional unit trust.