Fidelity Worldwide Investments is set to launch a new range of passive equity funds in March through its FundsNetwork platform.
The range will include four new funds covering Europe excluding UK, Japan, Pacific excluding Japan and Emerging Markets, adding to existing funds focused on the UK, US and World.
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Additionally, the funds range will also be made accessible to some wealth managers and investment managers if they fit the firm’s investment criteria.
The new funds, which will be managed by US-based Geode Capital Management, will offer lower cost portfolio building blocks for IFAs and will take its range to seven trackers in total.
The fund range will carry ongoing charges including 0.09% for the Fidelity Index UK fund, 0.27% for the Emerging Markets fund, 0.16% for European ex UK fund , 0.15% for Japan fund and 0.2% for the Pacific ex-Japan fund.
Jon Everill head FundsNetwork Advisory Services said: "Advisers have told us they want access to a wide range of investment strategies to meet the needs of their clients in a post-Retail Distribution Review (RDR) world. Combined with FundsNetwork’s highly competitive platform fee at 25bps and £45 investor fee, we believe this offers advisers a great place to invest in index funds."
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By GlobalDataBen Waterhouse head of UK retail sales Fidelity Worldwide Investment said: "We are pleased to be able to meet the growing demand for index funds by bringing Geode’s proven passive capability to the UK market. It gives investors a good mechanism for comparing costs on a like-for-like basis."
