We are therefore both really p***ed off that we may have to go through the hassle of changing fund manager because the one we chose prioritises making partisan political donations over the concerns of its customers.
I hope they reply saying they are going to halt the donations. But if they won't stop doing it we feel we have no option but to move our savings elsewhere.
130 Tonbridge Road,
My account Number: XXX
My Adviser: XXX
I was concerned to learn from the Electoral Commission website that Fidelity International has donated £95,000 to the Conservative Party so far during 2007.
I am not a Conservative Party supporter, but I do not believe that a fund management business like Fidelity should make donations to any political party.
As you are no doubt aware most institutional investors will vote against resolutions at companies’ AGMs where authority is sought to make party political donations. Indeed party political donations are rare amongst listed companies these days. It is therefore somewhat surprising to see an institutional investor make such donations itself.
As a long-standing Fidelity customer I am very concerned by these donations. I would therefore be grateful if you could answer the follow questions.
• What is the rationale for making donations to the Conservative Party?
• Does Fidelity intend to make similar party political donations in future?
• Does Fidelity disclose these donations when this is a potential conflict of interest (ie when presenting to Conservative-controlled local authority pension funds)?
I also wish to make clear that if Fidelity does intend to continue making partisan political donations I am likely to move my family’s savings to another fund manager.