Fidelity to launch small-cap UK Opps fund

Manager Alex Wright has worked closely with Sanjeev Shah on the £3bn Special Situations fund and has run an institutional version of the UK Opportunities fund since 2008. The institutional fund will be folded into the new retail offering, creating a single portfolio with £7m under management and both retail and institutional share classes. The fund will comprise 100 stocks, of which at least 80% will be smaller companies, with the remainder split between mid and large caps. It will sit in the IMA UK Smaller Companies sector, and the benchmark will be the Hoare Govett Smaller Compan...