Fidelity drops UBS and M&G funds from Select list

Fidelity Worldwide Investment has dropped the UBS US Growth and M&G Asian funds from the Select list, its list of funds with the best long-term prospects.

In its quarterly review of the list, the Fidelity’s fund selection team removed the two funds from the list after both saw manager departures, recently.

UBS Global Asset Management recently saw the departure of fund manager Lawrence Kemp, after more than 20 years at the asset manager. Kemp has since joined BlackRock as head of its fundamental large cap growth team, while management of the US Growth fund has been taken over by Sam Console and Peter Bye.

The Fidelity fund selection team will continue to monitor the fund.

“We have decided to remove M&G Asian from the Select list this quarter following the departure of Michael Godfrey,” reports Fidelity. “We will continue to monitor the fund going forward.”

Godfrey’s departure from M&G was confirmed in September, with Matthew Vaight taking over as sole manager on the Asian and M&G Emerging Markets fund.