Fidelity have recently announced that the AAA rated Fidelity MoneyBuilder Income Reduced Duration Fund merged with the AAA rated Fidelity MoneyBuilder Income Fund. Therefore the Fidelity MoneyBuilder Income Reduced Duration Fund has been removed from Square Mile's Academy of Funds.

With regards to the Fidelity MoneyBuilder Income Fund, we have maintained our AAA rating as we still have a high regard for the fund manager Ian Spreadbury and do not believe that the merger of funds will impact his ability to manage the fund.