Fidelity’s investment platform has restricted investment into RIT Capital Partners.
Fidelity said it had decided to restrict new investment into the fund "in the best interests of our customers". "You will still be able to redeem existing holdings in the fund either by sell to cash or by switching to other funds," it added. RIT Capital Partners chair and third largest shareholder increase stakes amid backlash RIT Capital Partners has returned -22.2% over the last year, compared to an IT Flexible Investment average of -6.4%, according to data from the Association of Investment Companies. The trust's discount has also widened, now sitting at 18%. Over the las...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
