Fidelity expands multi-asset range with income offering

Fidelity is set to expand its multi-asset fund range with the launch of the Multi-Asset Income fund for managers Richard Skelt and Eugene Philalithis.

Fidelity is converting its Retirement Income fund to create the Fidelity Multi-Asset Income fund, which will be brought to market next week. The fund is targeting a yield between 4%-6% per annum. Sitting in the newly formed IMA Mixed Investment 0-35% shares sector, Skelt and Philalithis will invest across asset classes including bonds, equities, physical property, REITS and high yield. At launch it will be overweight corporate bonds, with both managers believing the space offers compelling valuations. The vehicle will be classified as an interest fund and will hold a minimum of ...