Fidelity's Wright: We will not let Special Sits grow to £5bn again

Fidelity's top performing fund manager Alex Wright has said the group will not let its flagship Special Situations fund grow to the size seen under previous manager Anthony Bolton.

Wright (pictured) took over the fund from Sanjeev Shah at the start of 2014, after making his name in the small-cap space in charge of the Fidelity UK Smaller Companies fund. He said the group will act if its flagship UK fund grew sharply in size. "We will be active in considering what size Special Situations should be," he said. "We are comfortable with the current size, and the fund has been around £2.5bn to £3bn in the last few years, but £5bn or £6bn is too big for this fund." Fidelity famously split Bolton's Special Situations fund in 2006 after it reached £6bn in size, at the...