Fidelity Launches Two New Investment Solutions Leveraging the Firm's Global Research Network
Fidelity Event Driven Opportunities Fund and Fidelity Conservative Income Private Pool
TORONTO, Nov. 20, 2014 /CNW/ - Fidelity Investments Canada ULC ("Fidelity Canada") today is launching two new investment solutions designed to deliver the benefits of the firm's worldwide research network and global resources to Canadian investors. The new products, Fidelity Event Driven Opportunities Fund and Fidelity Conservative Income Private Pool, will leverage the strength and stability of Fidelity Investments, with close to seven decades of investing experience and a global presence.
"Both of these new solutions leverage the core strengths of Fidelity's investment management approach, our global talent pool and research capabilities," said Craig Strachan, Vice President, Head of Product, Fidelity Canada. "As the global investing landscape continues to shift and evolve, these new solutions underline Fidelity's ongoing commitment to developing timely investment products to meet the changing needs of Canadian investors."
Fidelity Event Driven Opportunities Fund and Class
Fidelity Event Driven Opportunities Fund, which will also be launched in corporate class, aims to achieve long-term capital growth by investing primarily in equity securities of companies that are involved in corporate events, including, but not limited to, spin-offs, index deletions, mergers and acquisitions, companies undergoing reorganizations and other event-driven opportunities. It seeks to uncover equity securities that have been mispriced due to these and other corporate events. The Fund is managed by Arvind Navaratnam, a Boston-based portfolio manager in Fidelity's Asset Management division, which has over $2.0 trillion of assets under management as of October 31, 2014.
Navaratnam has performed extensive research into what drives outperformance in this segment of the market and is putting his research into action with this Fund. Corporate events often have limited research coverage and can result in valuations not fully recognized by the market. This offers an opportunity for active managers to invest in mispriced securities and seek to generate alpha for securityholders over the long-term.
"This is an area where Fidelity, with its extensive research capabilities and constant attention to this segment of the market, can uncover hidden opportunities," said Strachan. "Fidelity's active approach seeks to provide Canadian investors with new sources of alpha and greater portfolio diversification."
The Fund employs an opportunistic approach which allows it to invest in companies of any sector, style or market cap, based on whatever particular corporate events occur.
Fidelity Conservative Income Private Pool
Managed by Fidelity portfolio managers, Joanna Bewick and David Wolf, Fidelity Conservative Income Private Pool will invest in a broad range of income-orientated asset classes and provide global exposure through investments in fixed-income and equity securities from around the world. It seeks to achieve a steady flow of income with the potential for capital gains.
Fidelity Conservative Income Private Pool will expand the firm's successful Private Investment Program, which offers a wide range of investment pools designed to meet the needs of high net-worth Canadians.
"Ultimately, Fidelity Conservative Income Private Pool provides a powerful solution for high net-worth investors' diversified income needs, potential for downside protection and exceptional support they have come to expect from Fidelity's successful Private Investment Program," said Strachan.
About Fidelity Investments
Fidelity Investments Canada ULC is part of the Fidelity Investments organization of Boston, one of the world's largest providers of financial services. Recipient of the 2013 Morningstar Advisors' Choice Fund Company of the Year, Fidelity Canada manages a total of $94 billion in mutual fund and institutional assets. This includes $19 billion in assets for institutional clients including public and corporate defined benefit pension plans, endowments, foundations and other corporate assets on behalf of clients across Canada as at October 31, 2014.
Fidelity Canada provides Canadian investors a full range of domestic, international and income-oriented mutual funds, as well as asset allocation and managed solutions and a high net-worth program, the Fidelity Private Investment Program. Fidelity Funds are available through a number of advice-based distribution channels including financial planners, investment dealers, banks and insurance companies. Fidelity is a proud supporter of the Boys and Girls Clubs of Canada, and we are dedicated to helping young Canadians realize their full potential as productive, responsible and caring citizens.
Read a fund's prospectus and consult your financial advisor before investing. Mutual funds are not guaranteed; their values change frequently and past performance may not be repeated. Investors will pay management fees and expenses, may pay commissions or trailing commissions, and may experience a gain or loss.
SOURCE: Fidelity Investments Canada Limited
For further information: Chris Pepper, Vice-President, Corporate Affairs, Fidelity Investments Canada ULC, T: (416) 307-5388, M: (416) 795-7762, E: [email protected]
Share this article