Fidelity to launch multi-manager distribution fund

Fidelity International is to launch a multi-manager distribution fund looking to attract money from ...

Fidelity International is to launch a multi-manager distribution fund looking to attract money from the with-profits market, as first revealed in Investment Week in March. Slated for a September launch, the portfolio will aim to deliver an income yield of 125% of the FTSE All Share index before charges and will sit in the Cautious Managed sector. Under Richard Skelt and Simon Mungall, the Fidelity Distribution fund will invest 40% each in equities and bonds, while 20% will be geared towards property. Holding up to 15 funds, the proposition will have a capped total expense ratio of 2%, wi...