Fidelity gets green light for MM fund merger

Fidelity has received investor approval to merge its £30m MultiManager Distribution fund into its £127m MM Income vehicle.

The merger was approved at an EGM last week, with the two funds to be combined on 4 December. Fidelity has cut the number of its onshore MM funds from five to three over the course of the year, with the group's PortfolioManager Balanced vehicle to move into its core MM range.