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Fidelity adds seven fund managers to online supermart

Fidelity Investments has signed up an extra seven major fund providers to its FundsNetwork supermarket, adding 70 funds.

The recruits take the total funds available online to 320 from a total of 21 fund managers.

As predicted in Money Marketing last month, the fund managers include ABN Amro and SG Asset Management. The others are Dresdner, Framlington, Investec, LeggMason Investors and Standard Life Investments.

Credit Suisse Asset Management narrowly missed the deadline and will be included in the next batch of new providers in October.

FundsNetwork&#39s IFA site is now working fully and allows intermediaries to set up client accounts, trade and receive consolidated statements and transaction summaries online.

Fidelity executive director of UK wholesale Robin Threadgold says: “We want to strengthen our position as the market leader in online fund dis-tribution so we are delighted to add to the list of fund companies. These new fund partners come highly recommended by the IFA community.”

Hargreaves Lansdown investment manager Ben Yearsley says: “We use a couple of the ABN funds, Investec&#39s European fund and a few Standard Life funds. Any new funds on the supermarket is good news but there is still a long way to go.”

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