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Fidelity launches Equity Growth Defender fund

Fidelity International is to launch the Fidelity equity growth defender fund, which will aim to offer investors equity growth while protecting both capital and growth from the full impact of market declines.

Fidelity says investors can put money into the Oeic fund at any stage of the market cycle as the fund will benefit from market rises while protecting gains and capital during market downturns.

The Fidelity equity growth defender fund will be predominantly invested in UK equities, although up to 20 per cent can be invested in other countries.

Its expected protection is set at 80 per cent of the fund’s highest ever price. This means that the higher the fund price is, the higher the expected protection. Though this is not a guaranteed outcome; if the fund falls by more than 20 per cent in a single day, the expected protection will fail, something which Fidelity says is an extremely unlikely scenario.

Stephen Fulford will manage equity and cash allocations and James Griffin will manage equity holdings.

Reviewed on a daily basis, the key driver of performance will be the mix of equities and cash. As the fund price moves up, the managers will increase its equity exposure. If the fund price falls, they will cut its equity exposure and increase cash.

The fund is scheduled for launch on September 13.



Ed Balls slams cost-cutting consensus

Labour leadership candidate Ed Balls has challenged the “strong and broad” consensus around the need for spending cuts and warned that a “second storm looms on the horizon”. In a speech at Bloomberg’s offices in London this morning, Balls slammed the “political and media consensus” that has developed around the need for tough spending cuts. […]

Neptune bases new fund on South Africa

Neptune Investment Management has launched an Africa fund which will have at least half of its portfolio invested in South African equities. The Africa fund is managed by Shelley Kuhn and aims to generate capital growth by investing in securities of companies which are either listed in Africa or are listed elsewhere but get a […]

Lansdown moves to non-exec role

Hargreaves Lansdown co-founder Stephen Lansdown has stepped down as executive director but will continue as non-executive director.


DB transfer shouldn’t be all-or-nothing

By Steve Webb, director of policy In my recent discussions with advisers, a hot topic has been the growing number of people interested in transferring their defined benefit pension rights into a defined contribution pension scheme. With many pension schemes offering eye-watering transfer values, this is likely to be an area of increasing interest. Yet […]


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