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Fidelity launches three multi-asset funds

Money

Fidelity has added three funds to its recently rebranded Multi Asset Open range as the fund house caters its multi-asset offerings to reflect changes in the advisory market.

The Fidelity Multi Asset Open Defensive, Fidelity Multi Asset Open Adventurous and Fidelity Multi Asset Open World funds were launched today, taking the total number of products in the Open line-up to five.

The funds are ran by Fidelity’s multi-manager team, which is led by head of multi-manager and multi-asset portfolio management James Bateman and includes portfolio managers Ayesha Akbar and Eugene Philalithis.

Fidelity recently decided to rename Akbar’s Fidelity MultiManager Growth fund and Philalithis’ Fidelity MultiManager Balanced fund as Fidelity Multi Asset Open Growth and Fidelity Multi Asset Open Strategic, respectively.

The new Fidelity Multi Asset Open Defensive fund will follow a composite index of 50 per cent bonds, 25 per cent cash, 15 per cent equities, 5 per cent commodities and 5 per cent real estate investment trusts. It will be the range’s lowest risk-rated fund, followed by the existing Strategic and Growth portfolios.

The Fidelity Multi Asset Open Adventurous fund’s composite index is 75 per cent equities, 15 per cent commodities and 10 per cent Reits while the Fidelity Multi Asset Open World fund will hold 100 percent equities.

Commenting on the recent moves, Fidelity says: “The changes to the multi-asset and multi-manager funds have been to make them a more coherent and easy to understand range.

“These changes reflect the ongoing transformation of the advisory market which sees a growth in demand for managed solutions. The multi-asset and multi-manager funds provide a variety of risk profiled solutions that are designed to meet differing investor requirements.”

The company now has the Multi Asset Open range, which invests predominantly in third-party funds, Trevor Greetham’s Multi Asset line-up, which mainly invests in Fidelity funds, and the passive Multi Asset Allocator range, which is also managed by Greetham.

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