Fidelity to offer income share class on £3bn European fund

Fidelity will launch an income share class on Sam Morse's £3bn European fund, which will provide an estimated yield of 3.2%.

Sitting alongside the existing accumulation share class, the income option will launch on Monday after strong demand from the adviser, wealth manager and institutional client bases. Fidelity says Morse's investment process fits well with an income share class, as the manager actively looks for attractively-valued companies which are able to grow dividends - which he believes is a good indication of long-term growth prospects. The new income share class will be launched on 12 July at £1 per share. The charges for this class will be exactly the same as for the existing accumulation shar...