Various changes - Fidelity Investment Funds
Fidelity has made a number of changes to its Fidelity Investment Fund ranges to make it easier for investors to understand how the funds are managed. The N share classes have also been renamed to W. The changes took effect 30 August 2019.
Impacts on
these guided-architecture products
- Regular Savings Plan
- Regular Savings Plan Malaysia
- Oracle
- Paragon
- Quantum
- Quantum Malaysia
- LifePlan
- Protected Lifestyle
- Kudos
Impacts on
open-architecture products including
- PIMS
- Choice
- Select
Clarification of investment objectives and policies
Following new rules and guidance issued by the Financial Conduct Authority (FCA), which regulates the financial services industry in the UK, Fidelity International ("Fidelity") has made some changes to the objectives and policies of its funds to provide clarity on how the funds are managed. This includes how benchmarks are used. The changes are for clarification only and will not affect the way the funds are managed or their risk profiles.
Fidelity's objective and policy updates booklet can be found opposite which details the changes.
| Fund name (and ISIN) | Specific to guided-architecture product |
|---|---|
Fidelity Global Dividend A Acc GBP (GB00B7FQHJ97)
Fidelity Multi Asset Open Strategic A Acc GBP (GB00B8WR7L45) | Regular Savings Plan, Regular Savings Plan Malaysia, Oracle, Paragon, Quantum, Quantum Malaysia, LifePlan and Protected Lifestyle |
| Fidelity Global Property Acc GBP (GB00B1BXCS68) | Regular Savings Plan, Regular Savings Plan Malaysia, Oracle, Paragon, Quantum and Quantum Malaysia |
| Fidelity Japan Smaller Companies A Acc GBP (GB0003860565) | Regular Savings Plan, Regular Savings Plan Malaysia, Oracle, Paragon, Quantum, Quantum Malaysia and Kudos |
Fidelity European A Acc (GB0003874798)
Fidelity European Opportunities A Acc (GB0003874913)
Fidelity American A Acc (GB0003865176)
Fidelity Moneybuilder Income A Inc (GB0003863916) | Kudos |
Share class name changes (specific to open-architecture products)
As well as the above, Fidelity changed the name of their N share classes to W. The changes are summarised in the Fidelity notification letter above.
Share class conversions in October and November 2019 (specific to open-architecture products)
Fidelity are planning to move investments in certain share classes into alternative share classes. In the majority of cases this will be moving Y class into either W or P class. This will be done in three tranches, 22 October 2019, 5 November 2019 and 19 November 2019. Consolidating these share classes will simplify the fund range and standardise the naming convention used. As a result of the conversions, the fund's ongoing charges figure (OCF) will go down. Details can be found in the Fidelity share class conversion letter above.
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For more information about Fidelity visit www.fidelity.co.uk