Fidelity extends target fund range for long-term savers

Fidelity International has launched two more tranches of its international multi-asset 'target funds', designed for long-term investors who want their bond exposure to increase over time. The multi-manager funds, to be headed by Richard Skelt, can invest in global equity funds, global bond funds and cash. The proportion of the assets allocated to bonds and cash rises over time up to almost 100% to reduce volatility as the products reach their end dates. In the two new tranches, these have been set at 2025 and 2030. Minimum investment in these Luxembourg-based products is E2,000, with a...