Fidelity is looking to make its high-conviction, active strategy funds more widely available to ret...
Fidelity is looking to make its high-conviction, active strategy funds more widely available to retail investors.
Until now, the Luxembourg Sicavs have only been available to institutional investors via private placement.
But the group has applied to convert them to Ucits III vehicles and is understood to be looking at marketing them to the
Fast Europe and
The mandates can gear up to 20%, go short up to 15% and place up to 30% of the portfolio outside the core investment area.
Instead of targeting a cash-plus return, the fund aims to outperform their equity-based benchmarks. In the case of
Managers are expected to maintain net equity exposure of between 90% and 110%.
The funds carry a performance fee of 20% if they outperform the benchmark by more than 2% on a rolling three-year basis.
The group currently uses derivatives and options on two