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Rating:New Fido Funds Read AA Only Not Rated 5.0 Email Routing List Email & Route  Print Print
Monday, July 28, 2008

New Fido Funds Read AA Only

News summary by MFWire's editors

With a group of planned funds, Fidelity is about to add a new twist to the asset allocation game. On July 22, the Boston-based fund giant filed proposals with the SEC for four new funds: the Fidelity Lifecycle Emerging Markets Fund, the Fidelity Lifecycle Investment Grade Bond Fund, the Fidelity Lifecycle Large Cap Value Fund and the Fidelity Lifecycle All-Sector Equity Fund. The catch for all four funds is simple; they're only for use inside other Fidelity funds.

Fidelity spokeswoman Sophie Launay confirmed that the four funds, following regulatory approval and an expected launch in October, will initially be available only inside Fidelity's own asset allocation funds, like the target date Freedom Funds and the Income Replacement Funds.

"The primary reason for launching these new funds is to create additional investment vehicles that our asset allocation funds can use," Launay told MFWire. When asked whether or not Fidelity plans to launch more funds for use only inside its own other funds, Launay left the possibility open.

"We're always examining our products," Launay said. "That's something we review on a regular basis."

The Lifecycle Emerging Markets Fund, with research analyst Colin Chickles at the helm, will have total expenses of 139 basis points, with Fidelity reimbursing investors to cut the expenses down to 125 bps. Total expenses for the Lifecycle Large Cap Value and Lifecycle All-Sector Equity funds will be 82 bps, with Bruce Dirks managing Lifecycle Large Cap Value and FMR multi-manager group chief Robert Stansky leading Lifecycle All-Sector Equity's management team. Jeff Moore will manage the Lifecycle Investment Grade Bond Fund, which will run on total expenses of 48 bps. (Fidelity will reimburse investors to keep the expenses down to 45 bps.)  

Edited by: Neil Anderson, Managing Editor


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