Fidelity to merge Akbar's global funds

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Fidelity is planning to merge its International fund into a fund focused on global assets later this year.

The £209m fund will be incorporated into the smaller Open World fund. Ayesha Akbar (pictured) is manager on both funds.

A Fidelity spokesperson said: "If approved by investors, the merger and transfer of the existing assets to the new fund will take place in November.

"The Fidelity Open World fund invests in a wide range of global assets, while the Fidelity International fund is biased towards investments in the European Union and developed markets.

"As a fund investing in other funds, the Fidelity Open World fund provides a structure that we believe offers greater investment opportunities and prospects for positive investment outcomes, along with the additional benefit of input from third party investment managers."

The risk profile is not expected to change as a result of this merger. Akbar's co-manager on the Open World fund is currently James Bateman. 

 

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