7 May 2015 - Fidelity Worldwide Investment has announced that their UK Smaller Companies fund is to re-open to new investments and it is once again available for investment via the Chelsea FundStore.
The fund, which is now co-managed by Alex Wright and Jonathan Winton, was soft closed in April 2013, as the company was concerned that the fund was getting too big and performance may be compromised.
Fidelity is now confident that, having added resources to the team, including the appointment of co-manager Jonathan Winton and a dedicated small-cap analyst, they have capacity to re-open the fund.
Ben Waterhouse, head of UK retail sales at Fidelity, commented: “Fidelity UK Smaller Companies is one of our best-performing funds and, following a period of strong asset growth in 2013, we felt the time was right to take a pause for breath. We have bolstered the resources on this fund, Alex and Jonathan have now been working together for two years and performance remains strong. We are confident we can now re-open the fund and will closely monitor capacity. Our primary focus remains on delivering for investors.”