Fidelity International plans to exit its wholly owned Chinese mutual fund business just three years after its launch. The London-based asset manager invested approximately $218 million in the unit, which currently manages 14 retail funds totaling 4.5 billion yuan, or about $670 million, down 25% from a peak of 6 billion yuan. To break even, the unit would need to grow more than twentyfold to reach $14 billion by 2029. Since its inception in 2023, the company has gone through four board chairmen and three CEOs, and implemented staffing cuts in 2024.
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