Fidelity converts Income Plus fund into MoneyBuilder range

The fund, which previously had an initial charge of 3.5%, has been renamed the Fidelity MoneyBuilder Dividend fund, while the minimum investment has been cut to £500 from £1,000. The move means the group now has eight funds in its MoneyBuilder range, which is typically sold directly to clients rather than via advisers. Clark's £445m fund, which has returned 12.5% to investors in the last three years ahead of the IMA Equity Income sector average of 5.7%, will keep the same investment policy and strategy. Gary Shaughnessy, UK managing director of Fidelity International, said the move...