Bestinvest says
This tracker fund is expensive relative to similar products and there are a number of cheaper options available. One of the most cost efficient options is Fidelity Moneybuilder UK Index, which has a total expense ratio of just 0.3%.
The mandate of this fund, that allows the manager to invest in a wide variety of derivatives and other money market instruments, raises concerns over the extent to which this is a tracker or whether the managers' macroeconomic views effect fund performance.
Tracker funds have an inherent problem as performance fees reduce the margins on performance. Always check the performance fees against similar products before investing in these types of fund.