Fidility considering an unfettered fund of funds

Fidelity is piloting an unfettered fund of funds portfolio to determine whether it should enter the market later this year. The fund is seeded with Fidelity's own money and is being run by Richard Skelt, manager of Fidelity's fettered range of funds. The project started in mid September and there is no set length of time for the pilot. A decision on whether the group will enter the external fund of funds market is expected by the end of 2003. Paul Kafka, communications director at Fidelity, said if Fidelity is confident it can offer a viable proposition, a range of unfettered produ...