Fidelity launches global dividend fund

Fidelity Worldwide Investment is to add to its equity income range with the launch of the Fidelity global dividend fund for manager Daniel Roberts at the end of the month.

The global income fund will hold a portfolio of approximately 50 best ideas with companies set to deliver capital and income growth.

The fund will aim to provide investors with a gross yield 25 per cent higher than the yield of the MSCI All Countries World index and an estimated yield at launch of 4%.

Former Gartmore manager Roberts (pictured) will aim to balance the fund between high yielding stock and those with potential for “substantial future dividend growth”.

Fidelity Worldwide Investment head of retail sales Ben Waterhouse says: “We have seen huge demand for equity income products in this current environment of low economic growth and market volatility.

“Daniel has a proven track record and coupled with access to our global network of analysts, we believe we have a competitive edge in evaluating opportunities for income around the world.”

The fund, which will sit in the Investment Management Association new global equity income sector, will carry an annual management charge of 1.5%.