A half-dozen Fidelity mutual funds were wound up last week, but the company said the move was "a bit of corporate housekeeping".

Fidelity's senior legal counsel Matthew Heath told The Royal Gazette the wind-ups were made following the decision, some months ago, that the funds should be consolidated in to one Bermuda fund.

"Each fund was an individual company, and it made much more sense to operate the funds as one. We made this decision about a year ago, and the wind-ups are just some 'tidying up'," Mr. Heath said.

The funds wound up were: Fidelity Advisor World US Treasury Money Fund (Bermuda) Limited, Fidelity Advisor World Southeast Asia Fund (Bermuda) Limited, Fidelity Advisor World US Intermediate Bond Fund (Bermuda) Limited, Fidelity Advisor World Europe Fund (Bermuda), Fidelity Advisor World Global High Income Fund (Bermuda) Limited, and Fidelity Advisor World US Large Cap Stock Fund (Bermuda) Limited.