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Fidelity To Merge Two Growth Funds

Fidelity International is planning to merge two growth funds.

    Fidelity Internationalis planning to merge two growth funds,金融时报》reports. The £151 millionGrowth & Income Fundwill be combined with the £484 millionMoneyBuilder Growth Fund.

    Both the funds were managed byJames Griffin. The move will help Fidelity rationalize its U.K. fund range, create a larger fund and cut operating costs. The merger is likely to be implemented from July 16.

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