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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 it caters its multi-asset offerings to reflect a growing demand for managed solutions from the adviser market.

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

The 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.

The funds are run by Fidelity’s multi-manager team, which is led by head of multi-manager and multi-asset portfolio management James Bateman.

In a statement, Fidelity says: “These changes reflect the ongoing transformation of the advisory market which sees a growth in demand for managed solutions.”

Hargreaves Lansdown analyst Laith Khalaf says: “This gives advisers the chance to buy into Fidelity’s multi-asset allocation at different cost brackets. We will see more of this in the future as advisers become less willing to make asset allocation calls.”

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