Fidelity has said it wants to merge its £209m International fund into its Open World fund.
The group said the broader investment remit of the Open World fund would provide better opportunities for investors compared to the International fund, which has a strong bias towards Europe and developed markets.
International also invests directly, whereas Open World is a multi-manager fund. Both are managed by Ayesha Akbar.
The International fund has produced second quartile returns in the IMA Global sector in five-, three- and one-year periods, according to data from FE Analytics.
“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,” the group said.
If approved by investors, the merger will take place in November.
