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OBSR announces Fidelity rating changes

Old Broad Street Research has announced rating changes to four Fidelity funds.

The independent investment funds research and consultancy company re-awarded Fidelity’s special situations fund with an A rating. The fund lost its AAA rating after disbanding following the departure of its esteemed manager Anthony Bolton.

OBSR also upgraded Fidelity’s moneybuilder income fund from AA to an AAA rating.

New A ratings were also awarded to the global special situations and sterling bond funds which were both previously unrated.

Commenting on the reinstated A-rating on Fidelity’s special situations fund, Old Broad Street Research research director Richard Romer Lee says: “The fund is now managed by Sanjeev Shah following the handover from the previous manager Anthony Bolton.

“Mr Shah has been with Fidelity since 1996 and became a Portfolio Manager in 2002. Having met with Mr Shah on a number of occasions both before and after the official handover and reviewed the derivative usage policy which will apply to the fund, our overall conviction leads us to re-introduce this rating.”

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