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Closure of Fidelity SGD Class Funds
Due to small fund sizes which will result in administrative cost inefficiencies (and high costs for the unit holders), Fidelity has decided to close the following SGD class funds:
- Fidelity American Growth Fund A -SGD
- Fidelity Euro Balanced Fund A -SGD
- Fidelity European Fund A -SGD
- Fidelity European High Yield Fund A-SGD
- Fidelity Target 2020 Fund A-SGD
- Fidelity International Bond Fund A-SGD
- Fidelity Latin America Fund A-SGD
- Fidelity Pacific Fund A -SGD
- Fidelity US High Yield Fund A-SGD
- Fidelity Emerging Market Dept Fund A-MDIST -SGD
- Fidelity Growth & Income Fund A-MDIST -SGD
If you own the fund, you will have the following options:
1) Switch to the class A-USD or class A-Euro version of the same sub-fund or the SGD share class of any other sub-fund under Fidelity.
2) Redeem your holdings by 25th May 2009.
3) Do nothing – in which case your units will be automatically redeemed based on the NAV price on 29th May 2009 and the proceeds will be sent to you on or around 12th Jun 2009.
For more information, please refer to the notice sent out by Fidelity: