Lost £2800 in a year

My child’s trust fund has decreased in value by over £2800 this year (from £1600 to £1400 and despite me paying an additional £800 in this year) and I’m paying a fee for the privilege of my child losing money in an apparent low risk account. We knew nothing of this until receiving a statement despite that they are meant to manage this money on my child’s behalf. This is money that relatives have paid in all year which has now been lost. Total disgrace to manage children’s money in this way and will be making a complaint. Transfer your child’s money out of this immediately even if to a very low interest account as this product is putting your child’s cash at serious risk.