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Rating:Manager Changes Spur Redemptions at Fidelity International Not Rated 3.3 Email Routing List Email & Route  Print Print
Thursday, July 05, 2007

Manager Changes Spur Redemptions at Fidelity International

by: Erin Kello

Two Fidelity International funds have seen outflows as a result of manager changes. Bloomberg reports that investors have pulled about $3 billion out of the firm's European Growth Fund since manager Graham Clapp announced that he was stepping down at the beginning of the year. Fidelity International's U.K. Special Situations Fund, which Fidelity split in two last year, has suffered "hundreds of millions" of dollars of redemptions since it was announced that Anthony Bolton will be leaving at year's end. Bolton had managed that fund since 1979.  

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