Fidelity Worldwide Investment has launched the Fidelity SmartFund Account, a flexible pricing scheme that allows retail investors to conduct multiple transactions on its open fund platform, FundsNetwork.
Fidelity SmartFund Account is a simple and transparent all-in-one monthly account fee based on an average asset balance.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The new scheme will offer investors to buy and switch amongst the over 380 funds provided by 10 fund houses on Fidelity’s FundsNetwork platform without upfront subscription or switching fee.
Depending on the asset balance, the monthly account fee can range between 0.3% to 1% p.a of the market value of average daily fund holdings for all funds except cash funds which is 0%.
Fidelity SmartFund Account is available only to investors who open an account directly with Fidelity. The minimum account opening requirement is USD50, 000.
Bruno Lee, regional head of retail, Asia ex Japan, Fidelity Worldwide Investment, said: "In today’s volatile investment market, regular and timely portfolio rebalancing is critical, yet, the transaction cost could be a deterrent for some investors.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData" Fidelity SmartFund Account is a new solution for Hong Kong retail investors to put aside the one-off transaction cost consideration and help investors focus instead on the more important decision related to allocating the right fund asset classes mix at the right time based on their personal financial circumstance and changing investment market environment.
"We believe an asset-based pricing model will create a new trend in the fund distribution market in Hong Kong and will further enhance the usage of funds as part of the investors’ wealth management component.
"This alternate pricing scheme will best suit investors who plan to review their portfolios periodically and have a diverse interest in asset classes, geographical exposure and sector preferences over a changing investment market environment.
"Our key priority is to offer our clients more options on product range, personalized investment guidance supported by Fidelity’s global investment experience, easy and convenient tools to monitor their fund portfolio, and a simple pricing scheme that is aligned with our customers’ interest and preference," Lee added.
According to the Hong Kong Investment Funds Association’s latest statistics, the gross sales of Hong Kong retail fund in the first five months of this year was USD35.3 billion, representing an increase of 75.6% compared with the corresponding period last year.
Fidelity has also launched an online portfolio tracking tool, Portfolio X-ray, which will allow them to review their portfolios details and breakdown around-the-clock.
