Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Fidelity launches trio of multi asset funds

Fidelity has unveiled three funds within its Multi Asset Open range, run by the team headed by James Bateman.

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.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Your Business: Cover Star Club

Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

Wealth Manager on Twitter