Fidelity FundsNetwork has launched a new multi-manager product suite with classes for both fee-based and commission remunerated advisers.
Accessible from 4 February, the new asset allocation service can take a defensive through to aggressive stance, depending on individual client risk profiles.
Run by Fidelity’s multi-manager team, the five portfolios can invest in over 1,100 offerings available on FundsNetwork as well as more specialist vehicles, such as hedge funds.
The multi-manager funds are:
- PortfolioManager Defensive – 10% UK equities, 85% UK bonds and 5% other
- PortfolioManager Cautious – 30% UK equities, 10% developed equities, 50% UK bonds and 10% property
- PortfolioManager Balanced – 30% UK equities, 25% developed equities, 5% emerging equities, 20% UK bonds, 10% global bonds, 5% property and 5% commodities
- PortfolioManager Adventurous – 35% UK equities, 35% developed equities, 10% emerging equities, 5% UK bonds, 5% global bonds, 5% property and 5% commodities
- PortfolioManager Aggressive – 10% UK equities, 70% developed equities, 20% emerging equities
FundsNetwork head David Dalton-Brown says initiatives such as the dual asset class will enable advisers to tackle the expected regulatory changes in 2008.
“We like to think of the range as ‘RDR proof’ but whatever regulatory changes 2008 brings, we are confident that the features of the new investment solutions are flexible enough to support advisers in meeting the regulatory challenge – whether they continue to take commission or choose to take a fee from the client,” he says.
FundsNetwork sales and marketing head Rob Fisher added: “We recognise not all advisers are investment experts. The solution and tools we are launching can make their life easier and allow them to have that extra time to spend time with clients.”
The A share class is available for commission remunerated advisers. It offers a 5% initial charge, 5% commission and 1% annual management charge. Fee-based advisers can access the N share class which has no initial charge and a 0.5% annual management charge.
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