Fidelity is setting up a fund of special situations fund in an effort to fend off competition following the firm splitting its special sits portfolio run by Anthony Bolton.The move comes after warnings to Fidelity by commentators that rivals could lure inves- tors away from its flagship 5.5bn special sits fund after its decision to split it into two later this year, with Bolton managing one of the fund.s Fidelity says the multi-manager launch on January 16 meets advisers’ needs in assessing the broad range of funds marketed under the special situations, opportunities or dyn-amic banners. It will be run by Chris Ralph and Richard Skelt and is expec-ted to include just six underlying funds at launch, aiming for aggressive total returns by investing predominantly in unconstrained UK funds. Fidelity is also setting up a concentrated equity income portfolio which will hold six funds at launch. The firm says IFAs are demanding more aggressive multi-manager products to sell as core offerings to clients. Further multi-manager launches are planned for this year. Fidelity is also offering a global property fund investing in Reits. Head of IFA channel Peter Hicks says: “This move is led by demand from IFAs. A big number have been telling us that they would have put money into Fidelity’s special situations fund but now need an alternative. Now every other company in the market is going out there saying, give the money to us.” Merrill Lynch managing director of UK retail Richard Royds says: “Fidelity are never slow at picking up on an opportunity. There are some very good funds in special situa- tions and we look forward to being one of the funds on their roster.” Money Marketing Live and Mortgage Business Expo, the industry’s two leading intermediary events, have joined forces to create one of the biggest business shows ever to be staged in Scotland. Taking place on March 2 at the SECC in Glasgow, Financial Services Scotland will see experts from across financial services offer insight into the very latest regulatory and industry developments. Speakers in the Money Mar- keting Live conference include Standard Life chief executive (UK life and pensions) Trevor Matthews, Winterthur Life chief executive of Mike Kellard, Legal and General group director (product and corporate) John Pollock, Origen head of pensions & product research Mark Stopard and Scottish Life head of pension strategy Steve Bee. With more than 100 exhibitors, Financial Services Scotland also contains several streams of seminars covering the latest product developments in the investment, pension and protection markets as well as the dedicated mortgage exhibition and conference. To find out more about the conference and to register, please visit the website at www. financialservicesscotland.com or call 020 7970 4651.