Fidelity is closing the £2m onshore Global Real Asset Securities fund on August 26 but will keep the larger Luxembourg-domiciled fund open.
Amit Lodha, the manager of both funds, will continue to manage the £123m offshore fund.
Investors could either switch to the offshore fund or chose to invest in another onshore fund.
A spokesperson for Fidelity said: “While the offshore fund has attracted strong interest, the onshore fund was deemed too small to be maintained.”
The onshore fund had produced a bottom quartile return of less than 1.1 per cent in the past year compared to the average return of 4.1 per cent from the IMA Global sector, according to FE Analytics.
The offshore fund, launched in September 2009, has just outperformed its benchmark with a 10 per cent return since inception compared to the MSCI AC World Real Asset Composite index’s 9.6 per cent, according to Fidelity’s latest factsheet.
