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Birthday present for Fidelity investors

Fidelity is reducing the initial charge on two multi-manager funds celebrating their first anniversary.

The multi-manager growth and income portfolios managed by Richard Skelt are both offering a reduced charge of 3 per cent until December 17 along with flexible transfer pricing.

This allows IFAs to offer discounts to their clients by quarter-point increments. Advisers who want to rebate their entire initial commission can transfer Isa and Pep clients to the multi-manager portfolioa at no extra cost.

The income portfolio invests in around 15 to 20 UK-focused equity and bond funds. It aims to generate income but also offers the potential for capital growth over the long term. It is up by 8.8 per cent since launch.

The income fund is currently first in its sector over one year while the growth fund is in the top quartile.

Key holdings in the income portfolio include the Artemis income fund, BWD UK equity income trust and Lazard UK income retail fund.

The growth fund invests in a similar number of funds, half based in the UK and half overseas. It has risen by 7.2 per cent in the past year.

Head of UK distribution Michael Jones says: “We hope that this anniversary offer will prove popular with IFAs whose Pep and Isa clients could benefit from a management approach.”


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