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CORRECTED (OFFICIAL)-Fidelity to boost equities team with City Financial fund buy
July 23, 2014 / 10:33 AM / in 3 years

CORRECTED (OFFICIAL)-Fidelity to boost equities team with City Financial fund buy

(Company corrects index return data in paragraph 2)

LONDON, July 22 (Reuters) - Fidelity Worldwide Investment said on Tuesday it planned to boost its UK equities team by acquiring the City Financial UK Opportunities Fund, led by market-beating manager Leigh Himsworth.

Himsworth, formerly head of equities at City Financial, has managed the 70 million pound ($119.51 million) fund since 2011 and during that time has returned 54.53 percent against a return of 41.3 percent for the FTSE All-Share index, Fidelity said in a statement.

Himsworth focuses on small and mid-cap stocks and has 20 years of experience in portfolio management having previously worked at Royal London Asset Management, Gartmore and Eden Financial. ($1 = 0.5857 British Pounds) (Reporting by Simon Jessop, Editing by Huw Jones)

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