Fidelity has brought in the consumer industries fund, a Luxemburg domiciled Sicav sub fund.
Consumer industries is targeted at experienced investors and will aim for long term growth by taking advantage of a rise in consumer spending, especially in the USA and the UK due to sustained economic growth.
The fund will invest in companies all over the world that are involved in a range of activities, from the leisure industry and beverage manufacturers to retailers. These might include companies such as Walt Disney, Coca Cola, Nestle and Wal Mart Stores.
As the fund covers a wide ranging area, this will give consumer industries a great deal of stability, because if one area underperforms it will not affect the other areas. It should appeal, especially to the more cautious investor who does not want to invest in a fund with narrow parameters.
According to Standard & Poors the Fidelity funds world fund is ranked 40 out of 273 funds, based on £1,000 invested on a bid to bid basis with gross income reinvested over three years to September 1, 2000.