The asset manager said in a statement that the closure of the £35m fund will enable manager Mike Fox to focus on the £536m Sustainable Leaders Trust.
The fund, which was launched in May 2011, will close on 31 August.
RLAM said the decision was taken following a review that concluded the UK Ethical Equity fund and the Sustainable Leaders Trust are similar propositions.
The manager said: “We can confirm that the Royal London UK Ethical Equity Fund will close on 31 August 2017. We reviewed our offering in this space and decided to focus on the highly successful Sustainable Leaders Fund instead, a similar proposition and also managed by head of sustainable investments Mike Fox.
“Clients have the option to switch to the Sustainable Leaders Fund or to transfer to any other RLAM fund.”