Fidelity to soft-close top-performing FAST Europe fund

Fidelity Worldwide Investment is to soft-close its popular FAST Europe strategy following a surge in inflows, Investment Week can reveal.

The fund, run by Anas Chakra, has the ability to go both long and short equities in Europe, in line with the other portfolios in the FAST range. In the past three years, the fund has outperformed the wider Europe including UK sector, returning 35.8% compared to the peer group gain of 20.6%, according to FE. Fidelity has told clients the fund will be soft-closed on 2 January after it swelled in size this year, hitting €2.6bn by the end of September. When it soft-closes, existing investors will only be able invest up to a maximum of €3m a day. Recently the fund has benefited from ...