Fidelity International has appointed Chase Manhattan Trustees to replace Clydesdale Bank as custodial, trustee and depository for £19bn (€29.8bn) in UK pooled funds.

Fidelity's UK pooled fund assets include 16 UK institutional open-ended investment company funds (oeics) and 31 retail funds, comprising oeics, unit trusts and investment trusts. Fidelity International is the international arm of Fidelity Investments, which has more than $1 trillion (€1.1trillion) under management.

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Fidelity hires Chase as UK custodian

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