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Fidelity to Lift Restrictions on American Fund

Stephen Harris

27 September 2006

Fidelity International has announced that restrictions on its American Special Situations Fund will be lifted on 23 October 2006, reopening the fund to new investments. The initial charge on the fund was increased to 5.25 per cent in November 2003 to stem the large inflows of new money. This charge will be reduced to Fidelity’s standard charge of 3.5 per cent. Initial commission for advisors has also been reinstated on the fund at 3 per cent and on-going trail commission of 0.5 per cent will be paid on new investments. Previously run by Neal Miller, the fund is now managed by Bob Haber, who took over this July.