Fidelity soft-closes Asian Smaller Companies fund

Due to 'strong interest' from investors

Fidelity International is soft-closing its Asian Smaller Companies fund from 3 April due to "strong interest" in the proposition.

The firm said the Luxembourg-domiciled fund had reached a level of assets near that it is comfortable managing, according to a letter to investors seen by Investment Week, with £437m of assets at the end of January.  As a result, it will stop marketing the product, managed by Nitin Bajaj, and has asked investors to help control further inflows, while at the same time maintaining flexibility in terms of rebalancing.  A spokesperson from Fidelity said: "The Fidelity Funds - Asian Smaller Companies fund has experienced strong interest from a broad range of professional investors on the b...