Fidelity delivering poor performance on nearly half of funds

Research from fund analyst, Moneyspider.com, has established that Fidelity is delivering below-average performance to thousands on nearly half of its funds.

Fidelity, which manages approximately £30 billion of UK saver’s cash, is the UK’s second largest fund manager after Invesco Perpetual.

Tony Ahearne of Moneyspider.com said this research will no doubt be of concern to UK investors, particularly as Fidelity is so popular and high profile.

Mr Ahearne added to under-perform so dramatically at a time when the UK economy was powering ahead poses a number of questions about Fidelity’s ability to deliver to UK investors.

Portfolios such as Fidelity Moneybuilder Growth fund and its UK Special Situations fund have generated healthy returns over the last few years but many of its other funds have under-performed.

Moneyspider rates all the funds in a group’s range against their peers and rates performance from A to E. On the whole, their research has established that, of 35 Fidelity funds currently held by private investors, 16 are well below-par with almost 25% attracting either a D or E rating.

Story link: Fidelity delivering poor performance on nearly half of funds