28th April 2016 – Following an extraordinary general meeting, which took place on 6th April 2016, Fidelity have announced that shareholders approved the merger of the Fidelity UK Growth fund into the Fidelity UK Select fund.
The merger will take place on 13th May 2016, when the assets of the UK Growth fund will be transferred to the UK Select fund. Any regular monthly savings will also be switched automatically.
Fidelity has confirmed that all associated costs of the merger will be met by them.
If you are an investor in Fidelity UK Growth, and are happy with the merger, you need take no further action.
If you do not want your holdings merged into the Fidelity UK Select fund, you have the option of switching into a different fund (at no extra cost via the Chelsea FundStore), as long as the instruction is received before noon on 6th May 2016. Or, you can also sell your holding (as long as it is not within a SIPP or Junior ISA wrapper) before noon on 13th May 2016.
Please note that switching or selling your holding if outside of an ISA or SIPP wrapper may trigger a liability for capital gains tax.