Fidelity soft closes UK Smaller Companies for second time

Managed by Alex Wright

Fidelity is to soft close Alex Wright's UK Smaller Companies fund for the second time since launch in 2008, as assets approach £370m.

The fund was first soft closed back in April 2013 when assets reached £250m, and later peaked at £370m. It was then re-opened two years later after the appointment of analyst Jonathan Winton as an extra resource, when assets were £260m. This week, Fidelity has decided to soft close the fund again from 6 April after seeing "strong interest from investors". This will mean the fund, which is £368m in size, will be removed from all platforms including Fidelity's own platform, FundsNetwork. A spokesperson for the firm said: "The Fidelity UK Smaller Companies fund has experienced strong ...