Fidelity shutters Eugene Philalithis' Diversified Growth fund

£184m in assets under management

Fidelity International has closed its Diversified Growth fund after it became “too small” to manage effectively.

The fund held £184m assets under management at the time of closure. According to Morningstar Direct, the strategy reached its peak in November 2015 with £325m AUM. The Diversified Growth fund aimed to achieve long-term capital growth while limiting volatility. It followed a multi-asset approach and investing globally into a broad range of asset classes based on their risk profile. Manager Jeremy Podger and multi-asset head Eugene Philalithis to retire from Fidelity A Fidelity International spokesperson said: "We regularly review our range of products. We took the decision that the ...