Fidelity withdraws from CTF market - papers 16th Dec

The Chancellor is likely to be grilled about Fidelity’s decision when he appears before the Commons Treasury Select Committee today as until yesterday, Fidelity and F&C were the only fund managers to have signed up to handle investment. Despite earlier pledging its support, Fidelity has blamed weak demand for its own CTF products for its decision to pull out of the market as the firm’s own research suggests take-up by IFAs and investors is “weaker than we first thought”. Analysts told the Times fund managers were likely to find the CTF market unprofitable because the grants were too ...