Fidelity stops marketing FAST Europe after strong inflows

Fidelity will stop actively marketing its long/short FAST Europe fund to new investors, after seeing it grow four-fold over the past year.

The fund, which has about $2.5bn of assets, is managed by Anas Chakra and is aimed at professional investors. Fidelity also runs a FAST Japan fund, with the pair the most dynamic equity mandates the group manages. The group's says the conversion of the funds to a Ucits III structure last year has contributed to the considerable increase investor interest. "The FAST Europe fund has grown from £602m to $2.5bn over the past year, we think the move is in the best interest of the existing shareholders in the fund," A Fidelity spokesperson says. Since its inception just over five yea...