Fidelity International has launched a Global Innovators Fund (SICAV) which will be offered to clients across Europe and Asia through the firm's cross-border fund range.
The Luxembourg-domiciled fund draws on the firm’s experience in identifying and investing in innovative companies around the world.
The fund seeks to invest in companies that have the potential to be on the leading edge of innovation. Fidelity said these are companies expected to benefit from, or contribute to, the development and adoption of innovative technologies, products, services, or business models.
It said its fund managers aim to identify businesses positioned to drive or benefit from structural change and long-term trends across industries.
The fund is managed by experienced portfolio manager, Mark Schmehl, supported by Fidelity Investments’ broader investment platform, including the global analyst team. The portfolio typically comprises 100-200 stocks and is backed by research and risk management.
Fidelity International acts as the management company for the fund, while a subsidiary of Fidelity Investments serves as sub-investment manager and is responsible for the investment strategy and underlying research.
Dennis Pellerito, head of UK and Ireland asset management client group at Fidelity International said: “Mark and the team bring extensive experience and a strong track record of identifying and investing in innovative companies around the world, with a focus on businesses with the potential to emerge as long-term winners as industries evolve.
"For our clients, the strategy provides a differentiated way to access opportunities created by innovation across sectors and markets.”