Fidelity to close Philalithis' multi-asset fund next month

Low level of interest

Beth Brearley
clock • 1 min read

Fidelity is closing the Target 2020 fund next month due to a lack of client demand.  

No new investments into the Fidelity Target 2020 fund will be accepted after 3 September and, as of 10 September, all remaining holdings in the fund will be compulsorily redeemed. Launched in 2007 and managed by Eugene Philalithis since April 2014, the £19m fund has returned 1.4% over one year to 29 August, FE data shows. Fidelity finalises move to segregated mandates onmulti-asset range A spokesperson for Fidelity said: "The fund has become too small to manage cost-effectively and we have decided that the closure will be in the best interests of investors." Philalithis manages ...

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