Bermuda-based Fidelity International has launched a fund geared towards investing in communication services.
As communications continues to rapidly evolve, the Luxembourg-domiciled Global Communications Fund aims to provide active investment managers with an opportunity to tap into the innovation in the sector.
Sumant Wahi, who will manage the fund, 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.”
As of end September 2018, Fidelity International had £81.3 billion (€90.5 billion) in assets under administration.
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