Fidelity Investments has launched a family of funds for the Germany and Luxembourg market. The Fid...
Fidelity Investments has launched a family of funds for the Germany and Luxembourg market.
The Fidelity MoneyBuilder funds will consist of three equity funds covering the European, global and Asian markets and there is also a European bond vehicle being launched. All of them will be managed within Fidelity's Portfolio Strategies Group, headed by Richard Skelt.
The equity products are going to be biased towards mid and small caps while the bond portfolio will be mainly in investment grade paper with some high yield exposure. The annual management charge for the three equity funds is 1.25% and for the bond fund is 0.6%. Investors can switch between all three at no charge.
Klaus-Jurgen Baum, managing director of Fidelity International in Germany, said: "The Fidelity MoneyBuilder funds have been designed especially for the general market and are extremely transparent and simple to understand. We will be distributing this family of funds, which are very low cost by comparison with the market as a whole, through our direct sales channel as well as via all our usual sales partners."
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