Fidelity Investments is to launch a specialist global equity fund in January 2003. The Fidelity Fu...
Fidelity Investments is to launch a specialist global equity fund in January 2003.
The Fidelity Funds Global Focus fund is designed for experienced investors who want concentrated exposure to global stockpicking and are willing to accept a higher degree of risk.
Fidelity said the fund will differ from most international funds as its portfolio construction will not be bound by traditional geographic and regional constraints.
It will instead have a 'go-anywhere' investment mandate and will look at a combination of global sector and stock-specific factors, seeking to take advantage of the impact they have on stock market returns.
The fund will be managed by Brenda Reed, who will select the best investment ideas from each global sector as identified by Fidelity's team of investment analysts. It will have a relatively concentrated portfolio of around 100 stocks, with sector exposure similar to its benchmark, the MSCI WorId index.
The fund will be a high-risk, high-potential return fund aimed at investors seeking an aggressive diversification play.
It will be a sub-fund of the Fidelity Funds (Sicav) range and a sterling share class is available to UK investors.
Despite improved risk appetite
FOS award limit increase
Relates to 136 million transaction reports
Ceremony will take place 13 November