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Fidelity to launch adventurous fund for Greetham

Fidelity Worldwide Investments is adding to its multi-asset range with the launch of an adventurous fund, to be managed by head of asset allocation Trevor Greetham.

The launch of the Fidelity Multi Asset Adventurous fund will see the existing £261m Fidelity Flexible Managed fund merged into the new product, subject to investor approval, on 24 September.

Head of UK retail sales Ben Waterhouse says: “The fund is a natural extension of our multi-asset range.”

He says it will invest up to 100 per cent in growth assets such as equities, commodities and real estate.

Investors in the existing fund will see the annual management charge drop from 1.5 per cent to 1.25 per cent.

Waterhouse says the Flexible Managed fund will be able to retain its performance history as there would be no change in the new product’s risk profile.

The new fund will be the fourth in the range to be managed by Greetham using his tactical asset allocation process, joining the Fidelity Multi Asset Defensive, Fidelity Multi Asset Strategic and Fidelity Multi Asset Growth fund.

The Flexible Managed fund is currently managed by Rita Grewal, who will remain part of the management team. The fund was launched in October 2010 and has returned 7.8 per cent in the past 12 months compared with an average return of 5.2 per cent for the Investment Management Association flexible investment sector.

AWD Chase de Vere head of communications Patrick Connolly says: “Multi-asset is an area that is becoming increasingly popular. It is no surprise Fidelity is looking to move into that area.”


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