Fidelity has launched its MultiManager Distribution fund, which will target an estimated yield of 4%...
Fidelity has launched its MultiManager Distribution fund, which will target an estimated yield of 4%.
The fund is being managed by Richard Skelt, head of multi-manager. Over time, it is likely to be 40% invested in UK equity income, 40% in bonds and 20% in property.
The fund is eligible for inclusion in an Isa, self-invested personal pensions and will be available on the FundsNetwork Onshore Investment Bond later in the year. The annual management fee is 1%, with a 2% ceiling on total annual expenses. The initial charge is 3.5%. Commission is 3% initial and 0.5% trail.
The fund will sit within the cautious managed sector and hold up to 15 underlying funds.
Simon Ellis, managing director of multi-manager business at Fidelity International, said interest and demand for multi-manager products is growing rapidly as investors and advisers start to take advantage of the benefits they have to offer. The new Fidelity MultiManager Distribution fund epitomises all the strengths of multi-manager investing, combined in one single package.
The new Distribution fund is the fifth multi-manager fund in Fidelity's range. Others include Income, Equity Income, Special Situations and Growth.
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