Fidelity Investments is closing its $2.1 billion International Small Cap Fund on May 5 to most new investors after assets increased almost threefold since the beginning of 2004.

The fund has attracted $500 million in net new investments since January, Sophie Launay, a spokeswoman for Boston-based Fidelity, told Bloomberg. Managed by Ben Paton and Tokuya Sano, the fund had $747.5 million in assets in December 2003.

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