Fidelity to launch Global Enhanced Income fund for Roberts

Fidelity Worldwide Investment is to expand its equity income franchise with the launch of a Global Enhanced Income fund for manager Dan Roberts.

Roberts, who joined Fidelity at the end of 2011 to launch its Global Dividend fund, will use the covered call strategy already run on the group’s UK Enhanced Income fund to generate additional yield. The Global Enhanced Income fund will invest in the same 52 stocks held in Roberts’ existing Global Dividend fund, before using the covered call strategy across a number of the holdings to boost the fund's income. As a result his Global Enhanced Income fund has an estimated yield of 5% at launch, versus the Global Dividend fund’s 3.2%. Roberts (pictured) has built up a strong track reco...