Bermuda-headquartered Fidelity International has launched a UK-domiciled absolute return global equity fund, an OEIC, for UK investors.
The fund aims to build on the success of a Luxembourg-domiciled equivalent (SICAV) fund, launched in 2020 which now has over $1.6 billion in assets. The new UK-domiciled fund offers investors easier access through domestic investment platforms, alongside familiar tax treatment and regulatory alignment.
The launch responds to growing demand from UK investors and advisers for alternative sources of return and greater portfolio diversification, at a time of heightened market uncertainty, elevated valuations and increased concentration across global equity markets.
The fund will be jointly managed by Matt Jones, Hiten Savani and Daniel Swift, supported by Fidelity’s global research platform.
Dennis Pellerito, Head of UK & Ireland Asset Management Client Group at Fidelity International, said: “Market-neutral funds represent a powerful diversifier within investment portfolios, particularly for clients seeking to mitigate overall volatility, enhance risk-adjusted returns, and build resilience across market cycles.
“This launch, in response to client demand, marks an important addition to our investment range, making a well-established strategy more accessible to UK investors. By combining the expertise of an experienced portfolio management team with Fidelity’s global research platform, the fund is designed to help investors navigate market volatility by seeking consistent, uncorrelated returns across market cycles.”
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