funds designed to switch from equities to bonds and cash over a set number of years
Fidelity is to launch three lifestyle funds that switch from equities to bonds and cash over a set number of years. The vehicles are to be run as fettered funds of funds by Richard Skelt and branded Wealthbuilder Target 2010, 2015 and 2020. At launch on 30 May, the funds will be predominantly invested in Fidelity equity funds as Skelt looks to optimise capital growth. The asset allocation will increasingly lead to investment in fixed interest over time and as the funds draw closer to their target dates, they will switch heavily into cash and other money market instruments to lock in r...
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