Fidelity boosts tracker range with global index fund

Fidelity has expanded its tracker offering with the launch of the MoneyBuilder World Index fund.

The index tracker, which has an estimated total expense ratio of 0.30%, replicates the performance of the MSCI World Index, which represents large and mid-cap stocks spanning 24 developed markets.

The underlying index comprises 1,623 stocks and covers around 85% of the free float-adjusted market capitalisation in each country.

The product marks the third in Fidelity’s tracker range, with the launch of the firm’s US tracker on the S&P 500 recently, joining the MoneyBuilder UK Index Tracker fund.

The MoneyBuilder range comprises both actively managed and low-cost passive funds.

More fund groups are entering the passive space or are enhancing their existing range, as uptake of these products after the retail distribution review is set to increase.

L&G last week unveiled an emerging market debt index fund, in a move that sees trackers expand into a broader range of asset classes.