Fidelity is merging its £449m MoneyBuilder Growth fund into the firm's £85m UK Opportunities fund.
The group said the two funds - both run by Leigh Himsworth - "share many investments in common" and investors may find it difficult to decide which to invest in. The merger is due to take place on 24 June, subject to shareholder approval. Fidelity's Ian Spreadbury to retire "Both funds have relatively concentrated portfolios of around 40 UK-listed companies and have the same reference index in the FTSE All Share," a Fidelity spokesperson explained. "The two funds also have a similar risk-return profile that may make it difficult for new investors to identify which fund may be mo...
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