Fidelity's Luxembourg Sicav range is to be made available through St James's Place intermediary dist...
Fidelity's Luxembourg Sicav range is to be made available through St James's Place intermediary distribution channel.
Andrew Humphries, division director of asset management at St James Place, said: "We had a gap in our product offering for mutual funds and felt Fidelity's Sicav range could fill it. We currently only offer offshore life funds from Dublin and wanted also to offer a mutual fund that had distributor status."
Fidelity's Sicav range include bond as well as equity funds and totals more than $42.9bn of assets. There are around 80 funds in the Sicav, but it is unlikely all will be made available to sell. St James Place is currently looking at its existing range to see if there is any overlap with Fidelity's funds.
According to Humphries another reason why Fidelity was chosen is because of its active management as St James Place does not choose managers who are index trackers. The funds will be suitable for foreign nationals living in the UK.
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