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, Bloomberg reports.

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

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.