Target Funds take lifestyling approach

fidelity's Richard Skelt outlines his investment process and discusses the addition of three more funds to the wealthbuilder suite

Fidelity's Richard Skelt has taken on an additional three mandates to the 11 he already runs following the launch of the group's Wealthbuilder Target 2010, 2015 and 2020 funds. The Wealthbuilder Target funds are a suite of unit trusts that aim to mirror investors' changing financial and lifestyle needs by rotating through different asset classes to taper volatility over time. The funds, launched last month, are fettered funds of funds that use asset allocation to effectively switch an initial growth bias into an income mandate by a set date. Given that he is now running 14 mandates,...