Fidelity merges and closes funds

Toronto-based Fidelity Investments Canada ULC announced several changes to its fund lineup in late 2015. Fidelity Canada will merge four funds: Fidelity American Opportunities Fund will merge with Fidelity American Equity Fund; and Fidelity American Opportunities Class will merge with Fidelity American Equity Class. Fidelity Canada also announced the closure of Fidelity Income Replacement Portfolios because of low investor demand. All changes will be effective after the close of business on Feb. 19. Investors in the income-replacement portfolios will be able to switch their investments to another Fidelity Canada mutual fund or redeem their securities prior to the portfolios’ closure. Visit www.fidelity.ca for full details regarding fund names and fees.

(fcollie@investmentexecutive.com).