Fidelity Investments, the second-biggest mutual fund manager in the U.S., plans for the second time this year to bar new investors from a fast-growing fund focused on small-company stocks.
The $3.5 billion Fidelity Small Cap Value Fund (FCPVX) will take deposits only from existing shareholders beginning March 1, the Boston-based company said today in a statement. The fund, which has outperformed 95% of peers in the past year after returning 19%, saw assets rise 41% in the year ended Jan. 31, according to data compiled by Bloomberg.
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