Toronto-based Fidelity Investments Canada ULC on Wednesday announced the introduction of a new mutual fund focused on investing in innovative and disruptive companies, Fidelity Global Innovators Class, as well as the expansion of its Fidelity Private Investment Program line-up, with the launch of Fidelity Global Asset Allocation Private Pool.
Fidelity portfolio manager Mark Schmehl, who also manages Fidelity Canadian Growth Company Fund and Fidelity Special Situations Fund, will invest in companies anywhere in the world and across the market cap spectrum for Fidelity Global Innovators Class.
“We live in a time of accelerating change. Disruptive innovations, such as artificial intelligence, blockchain and advances in genomics, are transforming the global economy and fundamentally changing the investment landscape,” says Rob Strickland, president of Fidelity Investments Canada, in a statement. “Given his experience with investing in innovative companies, I believe Mark is well-positioned to take advantage of these trends and seek to help Canadian investors meet their long-term financial goals.”
The firm has announced that Fidelity Global Innovators Class will also be available in a currency neutral version — as will Fidelity Event Driven Opportunities Fund, Fidelity Global Concentrated Equity Fund and Fidelity International Concentrated Equity Fund.
Meanwhile, Fidelity Global Asset Allocation Private Pool, managed by portfolio managers Geoff Stein and David Wolf, is a global balanced portfolio strategy designed for risk-conscious investors seeking long-term capital growth.
The pooled fund will invest the majority of its assets outside of Canada, taking advantage of market trends and a bigger opportunity set from around the world.
This strategy will have a neutral mix of 50% equities and 50% fixed-income and money market securities, with tactical bands ranging from 20%-70% for equities and 30%-80% fixed-income and money market securities.
Fidelity Global Asset Allocation Private Pool will also be available in a currency neutral version.
“High net-worth investors in Canada are looking for trusted wealth management that can seek to take advantage of opportunities from anywhere in the world,” says Kelly Creelman, vice president, product solutions, with Fidelity Investments, in a statement. “We believe the addition of Fidelity Global Asset Allocation Private Pool will meet this evolving need and expand choice in our high net worth program for investors seeking to achieve their long-term goals.”
Fidelity Private Investment Program now has 16 pooled funds that cover a wide range of mandates aimed at meeting the diverse needs of high net-worth investors in Canada.
Photo copyright: garagestock/123RF