Fidelity is launching a no-load European index tracking fund which will pay renewal commission on Is...
Fidelity is launching a no-load European index tracking fund which will pay renewal commission on Isa investments.
The Fidelity Funds MoneyBuilder European Index fund will track the Dow Jones Eurostoxx 50 Index and will be domiciled in Luxembourg. The annual management charge is 0.6% and IFAs will receive 0.15% renewal commission for Isa investments.
Fidelity is also bringing its UK Balanced fund into its MoneyBuilder range. The fund is being renamed Fidelity MoneyBuilder Balanced, will have no initial charge and an annual management charge of 1%. IFA commission is 0.5% renewal.
David Cowdell, associate director, UK wholesale division at Fidelity said: "We believe that Europe currently presents an exciting opportunity for investors and this is why we have decided to introduce a European index fund to our MoneyBuilder range.
"The European economic situation is very favourable with low inflation."
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