Information from a shareholder note seen by Citywire Selector states the fund is too small to run cost effectively and will therefore be closed at the end of the month.
As of December 31 2016, the fund, which is Luxembourg domiciled and was initially launched in July 2012, has $11.8 million in assets under management. This is a drop from $47.2 million achieved in April 2016, according to Lipper data.
De Mello is head of Asian fixed income at the fund and named across several region-focused funds, while Barrineau is co-head of emerging market debt at the asset manager.
The liquidation will take place on 28 February 2017, the fund has been closed to subscriptions from new investors, with subscriptions or switches into the fund still being accepted until February 21 2017.
In a statement to Citywire Selector, a spokesperson said: ‘I can confirm we will be closing Schroder ISF Emerging Market Local Currency Bond effective from 28 February 2017.
'At Schroders we continually review our fund range and as a result we believe that this fund is too small to be run economically for our clients.'
On a three-year total return basis, the fund lost 10.1% in US dollar terms which was while its Citywire-assigned benchmark, the Bloomberg Barclays EM LC Govt-10%CountryCap TR USD, dropped 2.8% over the same period to the end of December 2016.