Fidelity UK equity funds receive ‘A’ ratings

Fidelity International is pleased to announce that two of its UK equity funds, the Fidelity UK Aggressive fund managed by Aruna Karunathilake and UK Growth fund run by Tom Ewing, have been given new ‘A' ratings from Standard and Poor's. Fidelity MoneyBuilder Growth fund retains its new ‘A' rating in the same review.

In rating the funds, S&P particularly praised Ewing's ‘thoughtful approach to risk and his full and effective use of the depth and breadth of in-house resource available to him', said Karunathilake had ‘had made a strong start', and paid tribute to Morse's ‘disciplined low-risk approach and experience which comfortably supports the retention of the S&P ‘A' new rating'.

Commenting on the achievements, Peter Hicks, Executive Director, UK Retail at Fidelity International, said: "Our UK equity team has undergone a transition in the last year or so which has seen an exciting blend of new talent take on the management of a number of our key UK equity funds. The new ratings are a testament to the successful start we have had in turning around our UK equity funds."

The Fidelity UK Aggressive fund and MoneyBuilder Growth funds are both 1st quartile year to date (end September 2008) and since the respective managers took on the portfolios. UK Growth is 2nd quartile under the manager's tenure and year to date.

FIL Limited ("FIL") and its subsidiary companies serve the major markets of the world by providing investment products and services to individuals and institutional investors outside the US. FIL Limited manages a total of £129.5 billion of assets.