Fidelity platform restricts new investments into Jupiter UK Mid Cap and UK Smaller Companies

Amid Richard Watts' departure

Fidelity’s personal investing platform has restricted new investments into the £544.7m Jupiter UK Mid Cap and the £422.5m Jupiter UK Smaller Companies funds.

According to a statement on Fidelity International's website, the restrictions were made "in the best interests of customers" and were effective from 23 February. Clients will still be able to redeem existing holdings under the restrictions, by selling to cash or by switching to other funds. A spokesperson from Fidelity International said the decision was based on shareholders receiving "poor value", which was supported by Jupiter's own assessment. "We will continue to work with Jupiter to assess the situation and any new information we receive," the spokesperson added. Fidelity pr...