Fidelity renames Karunathilake's UK Aggressive fund

Fidelity is to rename Aruna Karunathilake's £167m UK Aggressive fund to better reflect its investment style.

The fund will be renamed Fidelity UK Select as of 5 September, reflecting the fund's tendency to hold between 35 and 55 stocks within its portfolio. The investment style and management structure of the fund will remain unchanged. UK Aggressive has returned 17% over the five years to 3 August compared with an average return of 5.4% for the IMA UK All Companies sector, according to Morningstar. Over three years it has returned 40% versus a sector average return of 36.9%. The move comes a year after Fidelity renamed Alex Wright's UK Opportunities fund, now known as Fidelity UK Smaller...