Fidelity multi-asset team boosts equity bias

Fidelity’s range of multi-asset allocator funds have added equity exposure in recent weeks after equity investor sentiment reached oversold levels for the second time in six months.

Meanwhile, the team has been deepening its underweight bonds position since January, according to Kevin O’Nolan, portfolio manager at Fidelity Solutions.

He said the economic backdrop was “supportive of stocks”.

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