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Fidelity changes retirement fund to Multi Asset Income
Fidelity is renaming its multi-manager £15m Retirement Income fund as the Fidelity Multi Asset Income fund.
The group has also named Eugene Philalithis as a co-manager on the fund, alongside co-head of multi-asset investment Richard Skelt, and is removing the fund’s composite benchmark.
The fund of funds, which currently mainly invests in in-house Fidelity funds, has been manged by Mr Skelt since it launched in April 2007.
It currently reports a 40.1 per cent return in the past three years, which was the best performance out of eight funds in the IMA’s ultra-cautious Mixed Investment 0-35% Shares sector over the period.
The annual management charge is 1.25 per cent with an initial charge of 3.5 per cent.
