Fidelity has launched a fund focused on investing in the global communications services sector.
The fund, which launched on 11 December, carries an ongoing charge of 0.8 per cent and is managed by Sumant Wahi, a former senior equity analyst at Fidelity.
The focus of the fund will be companies in the recently formed Global Industry Classification Standard Communications sector, and it can invest in companies engaged in a wide range of economic activity, including energy companies.
The fund is domiciled in Luxembourg and has a minimum investment of $2,500 (£1,960).
Mr Wahi said: "In recent years, the way people communicate, access entertainment content and other information has changed considerably; due to the evolution and subsequent integration between internet, media and telecommunications companies.
"Communication services act as 'a connective tissue' across sectors and geographies providing unique and attractive opportunities in different regions of the world."
Patrick Connolly, head of communications at advice firm Chase De Vere, said: "The way that people and businesses communicate and access information has been through transformational changes in recent years and this will continue as new technologies and trends come to the fore.
"This can create some excellent investment opportunities amongst both existing market leaders and new entrants. However, the dynamic nature of this sector makes it particularly high risk and so a specialist fund such as this won’t be suitable for most investors."
david.thorpe@ft.com
