Fidelity to launch new investment trust - papers 3rd October

Fidelity is understood to be preparing plans for a trust specialising in emerging markets equities for a launch in the first half of next year, says the Times. The trust would be the first significant move by Stephen Westwood, who was recruited from Henderson in April to lead and strengthen Fidelity’s investment trust business, which for years has played second fiddle to its unit trust side. The aim is to raise at least £80m to £100m in the London-listed vehicle. One possibility would be to float it on the lightly regulated junior market AIM. FEARS OF another pensions mis-selling scand...