Fidelity to split Special Situations fund

Fidelity has also announced an increase in the initial charge applied on new investments into the fund to 5.25% from the current 3.5% - effective immediately - to stem the flow of new money. The fund has increased in value by about £1bn in the past nine months alone. Additional revenues generated by the new money will go into the fund rather than be paid to Fidelity. The £5.4bn Special Situations fund is the top performing UK retail fund: an investment of £1,000 at inception in 1979 would have grown to more than £100,000 today. Fidelity will equally divide assets of the fund into t...