Fund manager Fidelity has launched the UK-domiciled Fidelity Absolute Return Global Equity Fund (OEIC).
The fund builds on the Luxembourg-domiciled equivalent (SICAV) fund, launched in 2020, which has more than $1.6bn (£1.2bn) in assets.
Fidelity said the new fund offers investors easier access through domestic investment platforms, alongside familiar tax treatment and regulatory alignment.
The firm said it has launched the fund in response to growing demand from UK investors and advisers for alternative sources of return and greater portfolio diversification. It said demand has risen because of heightened market uncertainty, elevated valuations and increased concentration across global equity markets.
The fund will be jointly managed by Matt Jones, Hiten Savani and Daniel Swift, who are all experienced in global equity investing and portfolio management.
Mr Jones and Savani have worked together on Fidelity’s research-driven systematic equity strategies since 2013, when they co-launched the flagship Fidelity Research Strategy (FiRSt) All Country World strategy.
Mr Swift has been an integral member of Fidelity’s Systematic Equities Team since joining the firm in 2015 and became co-portfolio manager of the FiRSt strategy in February 2026. Together, they manage a suite of Fidelity’s systematic equity strategies both long only and long short.
Supported by Fidelity's global research platform, the team will draw on the firm’s investment expertise and proprietary insights to identify attractive long and short opportunities across regions, sectors and market capitalisations.
Dennis Pellerito, head of UK & Ireland asset management client group at Fidelity International, said: “Market-neutral funds represent a powerful diversifier within investment portfolios, particularly for clients seeking to mitigate overall volatility, enhance risk-adjusted returns, and build resilience across market cycles.
“This launch, in response to client demand, marks an important addition to our investment range, making a well-established strategy more accessible to UK investors.”