Fidelity To Close Global High Yield And Long Bond Funds

A spokesperson said the firm regularly reviews its range of products and believes these funds "have become too small to manage cost-effectively". 

The Global High Yield and Long Bond funds will no longer be available to investors on any platforms or through any distribution channels from 16 October and 10 October, respectively. 

Manager exits €1.3bn Fidelity sustainable EM fund

Launched in March 2012, the Global High Yield strategy currently holds £119m in assets and is managed by Peter Khan, Andrei Gorodilov, James Durance, Tae Ho Ryu and Terrence Pang. 

According to data from FE fundinfo, the fund has underperformed the IA Sterling High Yield sector over a one-, three- and five-year period. 

The Fidelity Long Bond fund, launched in July 1995, currently holds £22m in assets and is managed by Ian Fishwick and Tim Foster. In the last three and five years, the fund is down 35.4% and 50.9%, respectively.

RECENT NEWS

What A Rising VIX Means For Pension Funds

Wall Street’s latest selloff has moved beyond a technology-sector wobble and become a broad market event. The Nasdaq C... Read more

Behaviour Cannot Fix A Portfolio Construction Flaw

A Retiree Shouldn't Be Asked to Behave Their Way Out of a Portfolio Construction Problem Why behavioural coaching shoul... Read more

Behavioural & Retirement Portfolio Resilience

Behavioural Survivability and Retirement Portfolio Resilience Why the lived experience of market recovery matters as mu... Read more

Australia's Rate Rise Bites: Highest In 15 Years

The Reserve Bank of Australia has lifted interest rates to their highest level since 2011, and its governor admits the w... Read more

October Retirement Portfolio Resilience Assessment

Markets stabl Read more

Gyrostat September Retirement Portfolio Resilience Assessment

September Retirement Portfolio Resilience Assessment Markets have fallen. The price of risk has risen. ... Read more