The head of asset allocation in the multi-asset division at Fidelity Solutions confirmed that its funds would remain overweight in both equities and the US, a position they have held since February 2011, due to the government’s pro-growth strategy and “structural improvements” in the economy.
Mr Greetham said: “We expect economic data to bounce back in quarter two as a severely disrupted supply chain gets back to work and pent up demand is satisfied.
“We maintain our long held preference for stocks over bonds. We expect to see dollar strength and a rise in bond yields over the next few months.”
Fidelity launched two new multi asset funds – Fidelity Multi-Asset Balanced Income and Fidelity Multi-Asset Income and Growth – to direct investors in September, making them available to advisers a month later. Eugene Philalithis is lead manager on both funds, while Nick Peters acts as co-portfolio manager.