Fidelity has launched a new fund of funds investing in lesser-known portfolios as an exclusive offering for its high-net-worth (HNW) direct clients, according to Investment Week.
The fund called Fidelity Undiscovered Talents will be managed by fund managers Nick Peters and James Bateman.
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The fund aims to produce long-term capital growth through investment in little-heralded equity funds from across the globe.
The new fund is available to investors who are part of the Fidelity Wealth service, which provides a personalised offering to customers with investments of at least £100,000.
Fidelity said the launch does not represent a full-scale move towards providing new funds for its direct customer base, but instead is in line with exclusive offerings across other distribution areas.
Fund manager Peters manages a number of vehicles within Fidelity’s investment solutions group, while Bateman leads Fidelity’s global manager research and portfolio management capabilities.
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