London borough seeds Fidelity income fund

A London council has allocated money to two Fidelity International strategies, including seed money for an income fund.

The London Borough of Bromley has invested £80 million (€90.6 million) in the Fidelity Institutional Diversified Income Fund, which aims to deliver an income of above 4% per year.

The fund is a variation of Fidelity’ multi-asset income strategy and is being launched for institutional investors subject to regulatory approval.

The income will be managed by lead portfolio manager Eugene Philalithis and will provide global exposure to a range of income-generating asset classes.

Additionally, the London borough has allocated £50 million to the Fidelity UK Real Estate Fund.

Paul Harris, relationship director, Fidelity International, said: “In today’s changing investment environment, we are finding increasing demand for our multi-asset and real estate solutions as clients look to diversify their portfolios and boost their capacity to generate income.”

Fidelity International has £77.4 billion in assets under administration.

©2018 funds europe

HAVE YOU READ?

THOUGHT LEADERSHIP

Innovative US companies are providing some of the solutions to the climate crisis and transition to a more sustainable economy. We see potential opportunities in areas including renewable energy and…
FIND OUT MORE
This white paper outlines key challenges impeding the growth of private markets and explores how technological innovation can provide solutions to unlock access to private market funds for a growing…
DOWNLOAD NOW

IRELAND SPOTLIGHT

Visit our dedicated Ireland channel for all the latest news and analysis on the country's investment industry.
READ MORE

PRIVATE MARKETS FUND ADMIN REPORT

Private_Markets_Fund_Admin_Report

LATEST PODCAST