Fidelity Worldwide Investment has expanded its range of multi-asset income funds with two new fund launches for Eugene Philalithis and Nick Peters.
The group - which already runs the Multi Asset Income fund - has launched Balanced and Income & Growth portfolios to sit alongside the existing offering.
The range of funds offer investors different risk profiles, with the new portfolios targeting a higher total return for investors, but with higher expected volatility.
While Multi Asset Income has exposure to cash, government bonds and corporate debt worth 60%, the Balanced Income fund has just 50% in bonds and nothing in cash, while the Income & Growth fund has just 25% in the these asset classes.
Instead the two funds have more invested in equities and infrastructure, as well as high yield bonds and alternatives.
While the risks and returns are therefore likely to vary, all three funds are targeting a yield of between 4-6% per annum.
The £65m Multi Asset income fund, launched in 2007, has outperformed peers in the IMA Mixed Investment 0-35% shares sector, delivering 58.9% over the last five years versus the average fund return of 40.15.
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