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 ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Defaqto to launch rating for newer funds and portfolios

Defaqto to launch rating for newer funds and portfolios

Combines Defaqto and RSMR expertise

Jen Frost
clock 27 October 2026 • 2 min read
FCA urges private market firms to review conflict management amid rapid growth

FCA urges private market firms to review conflict management amid rapid growth

Recurring weaknesses found

Michael Nelson
clock 26 October 2026 • 2 min read
Darius McDermott: Asia's broadening investment story

Darius McDermott: Asia's broadening investment story

Fund managers have a dilemma

Darius McDermott
clock 21 October 2026 • 5 min read