Fidelity to reopen Wright's UK Smaller Companies fund

Fidelity is to reopen Alex Wright's top-performing UK Smaller Companies fund after restricting inflows two years ago.

The fund will reopen to new investment next week, Fidelity said, following the addition of "extra resource" in the shape of a small-cap analyst as well as co-manager Jonathan Winton in 2013. The group previously removed the fund from platforms in April 2013 to ensure Wright (pictured) did not encounter liquidity issues following a period of strong inflows. The fund had grown from £80m the previous year to £250m. The fund remains around £260m in size, although it did reach a peak of £370m by the end of 2013. Fidelity is no longer placing a concrete upper limit on the portfolio, but wil...