Fidelity proposing International fund merger

Fidelity Worldwide Investment is proposing to merge the £209m Fidelity International fund into the £9m Fidelity Open World fund.

If approved, the transferral of the assets would take place in November.

The manager of both funds, Ayesha Akbar, will remain in this role with Open World, with co-manager James Bateman staying on as well.

Meanwhile Nick Peters, co-manager on the International fund, will not be involved with the Open World fund and will focus on the other funds he manages. 

Additionally, Fidelity says the investment process adopted will not change as a result. 

A Fidelity spokesman says: “As a fund investing in other funds, the Fidelity Open World fund provides a structure that we believe offers greater investment opportunities and prospects for positive investment outcomes, along with the additional benefit of input from third party investment managers.

”The risk profile is not expected to change as a result of this merger, and it will continue to be managed by Ayesha Akbar with the same investment process and philosophy building on the wider Fidelity Solutions resources.”