Fidelity to merge away £450m Moneybuilder fund

The firm said the two funds - both run by Leigh Himsworth - "share many investments in common" and investors may find it difficult to decide which to invest in. The merger is due to take place on 24 June, subject to shareholder approval. "Both funds have relatively concentrated portfolios of around 40 UK-listed companies and have the same reference index in the FTSE All Share," a Fidelity spokesperson explained. Fidelity to merge multi-asset ranges under Bill McQuaker "The two funds also have a similar risk-return profile that may make it difficult for new investors to identify ...