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Roving Fidelity fund in bid to be a world beater

Fidelity is bolstering its fund range for the Isa season with a high-risk, global equity fund with a “go anywhere” mandate looking at global sector and stock-specific factors.

The global focus fund will seek high returns from investing in stocks in any region or country according to the best ideas of manager Brenda Reed, who will select around 100 stocks to beat the fund&#39s loose benchmark – the MSCI World index.

The fund, which launches in January, is a sub-fund of Fidelity&#39s Luxemburg Sicav range. It will be aimed at experienced investors who the fund manager believes may already hold an international fund and are seeking further aggressive diversification.

It will have a style-neutral approach and invest primarily in mid-cap stocks, with Reed, previously director of UK and European research with experience of managing money in the US, Japan and Europe, free to invest in any opportunities.

She will be supported by an international research network comprising more than 400 analysts, with each analyst dedicated to a specific industry sector. She says the fund will aim to take advantage of globalisation among companies and industries.

Charges are 3.25 per cent initial and 1.5 per cent annual. Initial commission is up to 3 per cent, with 0.5 per cent trail.

Head of IFA business Stuart Holah says: “For investors who are risk-aware and experienced, the fund could provide a &#39high alpha&#39 strategy to maximise the potential of global equity investing.”

Plan Invest joint managing director Mike Owen says: “It will be a difficult sell in these markets but if there is an upturn next year, it could perform well.”

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