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Fidelity taps into Select 50 buy list with Balanced fund launch

Fund group launches Select 50 Balanced fund for investors on its platform, tapping into its buy list of favoured funds.

 
Fidelity taps into Select 50 buy list with Balanced fund launch
 

Fidelity International has launched a fund-of-funds that will take its cue from the asset manager’s Select 50 preferred fund list.

The Select 50 Balanced fund will invest predominantly in funds from the Fidelity Select 50 list, which are rated by its investment analysts, and aims to produce long-term capital growth.

It will invest in a mix of assets, including shares, commodities, property and bonds, and hold around 30 funds from a range of different companies. At least 80% of the portfolio will be made up of Select 50 funds.

The Select 50 Balanced fund will be managed by Ayesha Akbar from the multi-asset team, who runs the Open World and Multi-Asset Open Defensive , Growth, Strategic , and Adventurous funds with Bill McQuaker.

Half of the funds have outperformed their benchmark over a three-year period. The defensive fund has matched its Investment Association (IA) Mixed Investment 0-35% Shares benchmark, with both returning 9.8%.

The growth fund underperformed its IA Mixed Investment 40-85% Shares benchmark 17.5% versus 19.9% over three years.

Strategic fared better, beating its IA Mixed Investment 20-60% Shares benchmark 16.8% to 14%, and the adventurous fund returned 23.2% beating its IA Flexible Investments benchmark of 22.1%.

The new Select 50 Balanced fund will be exclusive to Fidelity Personal Investing customers. The ongoing charge for the fund is 1.25%.

Akbar said the funds on the Select 50 list included investments in which Fidelity had the ‘highest conviction’.

‘We believe each fund that makes up the Select 50 Balanced fund brings something unique to the table and allows us to deliver a globally diversified portfolio that will help us deliver long term capital growth for our clients,’ she said.

Fidelity’s Tom Stevenson said investors sometimes found it a ‘challenge’ to put together a portfolio of funds ‘that complement each other’.

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  • Fidelity Multi Asset Open Adventurous N Acc
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  • Fidelity Multi Asset Open Defensive N Acc Gross
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  • Fidelity Multi Asset Open Strategic A Inc
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  • Fidelity Open World A Acc
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Look up the fund managers

  • Bill McQuaker
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  • Ayesha Akbar
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