Fidelity Investments Canada ULC announces limited closure of Fidelity Emerging Markets Fund/Class and termination of ETF Series
TORONTO, March 5, 2025 /CNW/ - Fidelity Investments Canada ULC today announced the limited closure (also known as a "soft cap") of purchases by new investors into Fidelity Emerging Markets Fund and Fidelity Emerging Markets Class (together referred to as the "Funds"), effective on or about May 27, 2025 (at close of business).
As part of its commitment to helping investors reach their long-term financial goals, Fidelity regularly reviews its products. The proactive decision to limit inflows has been made in order to preserve the integrity of the Funds' strategies and to maximize the return potential for existing investors. No action is required by investors. Those who already own the mutual funds will continue to do so and can continue to make additional purchases. The Funds will remain available to other funds and accounts managed or advised by Fidelity, and to existing investors, including: (i) those with systematic purchase and exchange programs; and (ii) new purchases by any discretionary client account managed by a portfolio manager licensed to engage in discretionary trading on behalf of its clients where the Funds are already held within the discretionary model portfolio or asset allocation program or other similar investment product prior to the close of business on May 27, 2025.
For the ETF Series of Fidelity Emerging Markets Fund, a similar limited closure would impact its liquidity and may create trading challenges for investors. Therefore, Fidelity has made the decision to terminate Fidelity Emerging Markets Fund – ETF Series (Ticker: FCEM) effective on or about May 27, 2025 (the "Effective Date").
Prior to the Effective Date, Fidelity Emerging Markets Fund – ETF Series may declare, pay and automatically reinvest a final distribution to investors in the ETF Series. Investors in Fidelity Emerging Markets Fund – ETF Series will be sent a notice of termination at least 60 days prior to the Effective Date. The ETF Series is expected to be de-listed from the Toronto Stock Exchange, at Fidelity's request, at the close of business on or about May 27, 2025. Investors will be able to switch into other Fidelity ETFs or redeem their securities prior to the Effective Date subject to the procedures and requirements set out in the relevant prospectus. Fidelity encourages investors in this ETF to speak with their financial advisors about the termination and to review their options.
About Fidelity Investments Canada ULC
At Fidelity Investments Canada, our mission is to build a better future for our clients. Our diversified business serves financial advisors, wealth management firms, employers, institutions and individuals. As the marketplace evolves, we are constantly innovating and offering our clients choice of investment and wealth management products, services and technological solutions all backed by the global strength and scale of Fidelity. With assets under management of $288 billion (as at February 25, 2025), Fidelity Investments Canada is privately held and committed to helping our diverse clients meet their goals over the long term. Fidelity funds are available through financial advisors and online trading platforms.
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SOURCE Fidelity Investments Canada ULC