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Fidelity suspends two fund managers for “violations”

Fidelity International has confirmed that it has suspended two of its senior fund managers in Hong Kong over a possible breach of its internal code of conduct.

Fidelity has declined to give the names of the managers who have both been suspended for a week as the firm launches a probe into potential violations of its internal code.

A spokeswoman for Fidelity says: “We can confirm that two fund managers have been suspended over a potential breach of our code of ethics pending an investigation. The funds have been re-allocated to the appropriately experienced fund managers within the Asia-Pacific investment team.”

Late last year Fidelity announced that former UK fund guru Anthony Bolton is to relocate to Hong Kong to launch a China fund in March 2010.

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