Over the past three months, the IA Global sector average outperformed the fund by 0.2% at 3.5% (Fidelity Global Focus returned 3.3%).
“Having fewer investments in the portfolio will enable the fund manager, Amit Lodha, to be more focused in his choice of companies, and to concentrate the fund’s assets on those investments in which he has the highest levels of conviction,” the Fidelity spokesperson stated.
“At the same time, the bias towards medium-sized companies will give him a greater range of stocks to choose from.
“The overall aim is to increase the potential for investors to benefit from his strongest investment ideas.”
Fidelity reassured investors that the risk profile of its Global Focus fund will remain unchanged.
