Fidelity's latest hire Roberts targets 4% yield with Global launch

Fidelity's Dan Roberts is aiming to deliver a yield of 4% with his new Global Dividend fund with a focus on developed markets and reducing concentration risk.

Roberts, the former Gartmore equity income manager who joined the group late last year, is aiming to deliver the yield through a portfolio of 50 stocks. The OEIC, which launches next week, is looking to provide investors with an alternative to the vast range of UK equity income portfolios, using its global mandate to provide investors with a broader spread of stocks and sectors, and cut down on the concentration risk which was so apparent in the UK income space after the BP debacle. At launch, Roberts expects the fund to have just 23% in the UK, with a further 40% in the US and 20% in...