The Fidelity Multi Open Defensive, Adventurous and World funds join the existing Strategic and Growth funds, broadening the range to five managed products.
The multi asset range, which invests in a range of funds, ETFs and shares, has recently undergone rebranding in an attempt to clarify its objectives.
Ben Waterhouse, head of UK retail sales, said: ‘The changes to the Multi Asset and Multi Manager funds are to make them a more coherent and easy to understand range.
‘These changes reflect the ongoing transformation of the advisory market which sees a growth in demand for managed solutions. The Multi Asset and Multi Manager funds provide a variety of risk profiled solutions that are designed to meet differing investor requirements."
The new Fidelity Multi Asset Open Defensive fund has a benchmark comprising 50% bonds, 25% cash, 15% equities, 5% commodities and 5% real estate investment trusts.
The Fidelity Multi Asset Open Adventurous fund’s index is higher risk, consisting of 75% equities, 15% commodities and 10% Reits.
At the top end of the risk spectrum, the Fidelity Multi Asset Open World fund holds 100% equities.
The Open funds, managed by Bateman’s team including Ayesha Akbar and Eugene Philalithis, have a Y share class with an annual management charge of 0.75%.
The Multi Asset Growth fund reached its third anniversary last November, but returns have been disappointing. Over three years it is up 19% compared to the IMA Mixed Asset 40%-85% Shares sector average return of 24.7%, ranking it 112/124. The group's Multi Asset Open Growth fund, which is run as a fund of predominantly third party funds and ETFs, is up 27.3% over the same period.