Fidelity International adds four trusts to list of restricted investments

Took place over the summer

Fidelity International has prohibited investments into four trusts due to consumer protection concerns.

The restrictions took place in the summer, preceding last week's decision by the Financial Conduct Authority and the government to temporarily exempt investment trusts from cost disclosure requirements. Investments were restricted in Shires Income; Majedie Investments; Downing Strategic Micro-Cap and JP Morgan Emerging Europe, Middle East & Africa Securities. Fidelity and abrdn among firms joining new trade body for investment platforms According to a Fidelity spokesperson, clients can redeem existing holdings in these funds, but are no longer able to buy shares in them until furt...