Fidelity International has announced its plans to launch the Fidelity Institutional Diversified Income Fund, a strategy based on its successful Multi Asset Income strategy but aimed exclusively at institutional investors.
The Fidelity Institutional Diversified Income Fund, seeded by London Borough of Bromley with £80m and still pending of regulatory approval, will be managed in line with Fidelity’s established Multi Asset Income Strategy, aimed at delivering an annual income of above 4%.
London Borough of Bromley has also allocated £50m to the Fidelity UK Real Estate Fund, bringing Fidelity’s total assets under management to £200m for Bromley.
Lead Portfolio Manager Eugene Philalithis will manage the new fund, which will invest in strategies providing global exposure to a range of income generating asset classes.
Paul Harris, relationship director at Fidelity International said: “In today’s changing investment environment, we are finding increasing demand for our Multi Asset and Real Estate solutions as clients look to diversify their portfolios and boost their capacity to generate income.
“London Borough of Bromley is a longstanding client of ours and we are pleased to continue to work together to meet their investment needs.”
Fidelity Multi Asset, which includes the Fidelity Multi Asset Income Fund, has a track record spanning ten years in strategies designed to deliver income.