Thu, 17/01/2013 - 10:10
Fidelity Investments is closing Fidelity Small Cap Discovery Fund (FSCRX) to new accounts.
As of the close of business on 31 January 2013, new purchases in the fund will be limited to existing shareholders.
The fund seeks long-term growth of capital by investing at least 80 per cent of its assets in securities of companies with small market capitalisations (those with market capitalisations similar to companies in the Russell 2000 Index or the S&P Small Cap 600 Index). Chuck Myers has managed the fund since March 2006.
“Chuck Myers has done an outstanding job managing Fidelity Small Cap Discovery Fund over his tenure,” says Brian B Hogan, president of Fidelity’s equity group. “As a result, investor inflows into the fund have accelerated and assets have nearly doubled over the past year to USD3.9bn. We believe that closing Small Cap Discovery Fund at this time is in the interests of the fund’s shareholders, and stabilising cash flows will help Chuck in seeking to maintain the fund’s consistent performance track records.”
Fidelity will open new accounts in Fidelity Small Cap Discovery Fund until 4:00 pm EST on 31 January. After that, investors generally will not be able to open new accounts in the fund. However, existing shareholders who are invested in the fund will continue to be able to add to their accounts. Employer-sponsored retirement plans and certain discretionary programmes offered by registered investment advisers may be able to open additional accounts for investors if the fund was established as an option as of 31 January. However, after 31 January Fidelity will no longer accept new investors into the fund, and retirement plan sponsors and advisers who have not established the fund as an investment option by 31 January will no longer be able to do so.
Mon 22/12/2014 - 06:30
Wed 23/07/2014 - 12:01
Mon 21/07/2014 - 12:08
Mon 21/07/2014 - 10:05
Thu 15/01/2015 - 08:19
Mon 22/12/2014 - 06:30
Mon, 26/Jan/2015 - 17:00
Mon, 26/Jan/2015 - 16:00
Mon, 26/Jan/2015 - 15:15
Mon, 26/Jan/2015 - 14:45
Mon, 26/Jan/2015 - 10:00
Mon, 26/Jan/2015 - 09:00
Mon, 26 Jan 2015 00:00:00 GMTCorporate Banking Account Management Associate – Large Investment Bank – New York, USA
Mon, 26 Jan 2015 00:00:00 GMTSolutions Engineer - Leading Hadoop vendor - Houston
Sat, 24 Jan 2015 00:00:00 GMT