Fidelity reopens Alex Wright’s small cap fund

Fidelity reopens Alex Wright’s small cap fund

Fidelity has reopened star manager Alex Wright’s Fidelity UK Smaller Companies fund after having restricted access to the fund since 2013.

Following a surge of inflows, Fidelity had removed Mr Wright’s fund from platforms in April 2013 in order to prevent investors buying in.

But the firm said it was now “confident that there is capacity to re-open the fund”, after hiring Jonathan Winton to co-manage in the fund in 2013 and also adding a dedicated analyst to the team.

Article continues after advert

Fidelity has therefore made the fund “open for new investment via a range of platforms”.

Since the end of April 2013 the size of the fund has fallen from £311m to £260m.

The fund is the top performer in the IA UK Smaller Companies sector since its launch in February 2008, delivering a return of 277 per cent compared to the sector average of 96.9 per cent.