FIDELITY ADDS 5 ASSET MANAGERS TO OPEN FUND PLATFORM
(The following press release from Edelman Public Relations was received by e-mail.)
Fidelity Wealth partners with five asset managers to expand offerings on open fund platform
* 42 funds added to FundsNetwork
* Only asset manager to offer third-party funds to retail investors in Hong Kong
HONG KONG, 3 December 2012 - Fidelity Worldwide Investment ('Fidelity') has added five fund houses, AXA Investment Managers, Franklin Templeton Investments, Janus Capital Group, PIMCO and Robeco Group, to its open fund platform, FundsNetwork, which offers a broad range of funds managed by Fidelity and other global asset managers.
The move brings the total number of fund providers and funds offered by FundsNetwork to 11* and 337 respectively. Fidelity Wealth's customers can compare and filter funds via their designated Private Client Manager as well as on Fidelity's web and mobile sites.
Bruno Lee, Regional Head of Retail, Asia ex Japan at Fidelity Worldwide Investment, said: "A comprehensive fund range is crucial as each client has different investment needs and a different risk appetite. After the addition of 42 funds, our FundsNetwork covers a wide range of asset classes which Fidelity Wealth's customers can construct their investment portfolios around to adapt to different market cycles on one platform. We will continue to expand our network of fund partners to provide more choice to customers.
"Fidelity is a pioneer in fund distribution as we are the only asset manager in Hong Kong to offer third-party funds to retail investors. FundsNetwork was launched in Hong Kong in 2009 to meet the diverse investment needs of Hong Kong people. We are committed to providing investors with a wide array of fund choices beyond our own funds."
According to figures from the Hong Kong Investment Funds Association, the fund industry in Hong Kong has registered US$9,647 million in net sales during the first three quarters of 2012, a 58% increase compared with the same period last year, signalling continued appetite for mutual fund products among Hong Kong investors.
"As one of the world's largest asset managers, boasting a sizeable global investment team, our ability to tap our global resources and research capabilities puts us at an advantage and enables us to guide our customers on managing their investments amid volatile markets," added Mr. Lee.
* The 11 fund houses include: AXA Investment Managers, BNP Paribas Investment Partners, Fidelity Worldwide Investment, Franklin Templeton Investments, Henderson Global Investors, Janus Capital Group, Martin Currie, PIMCO, Robeco Group, Schroders Investment Management (Hong Kong) Limited and Skandia Investment Group
This press release is distributed through Edelman Public Relations on behalf of Fidelity.
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Notes to editors:
About Fidelity Worldwide Investment Fidelity Worldwide Investment is one of the global leaders in asset management, providing investment products and services to individuals and institutions in the UK, continental Europe, the Middle East and Asia Pacific. Established in 1969, the company has over 5,000 staff in 24 countries and manages or administers client assets of US$289.4bn. It has over 7 million customer holdings and manages around 700 equity, fixed income, property and asset allocation funds. The company's fund managers receive research from one of the largest proprietary research teams, based in 12 countries around the world. Fidelity Worldwide Investment is an independent asset management company which is privately owned.
Data as at 30 September 2012
FIL Limited and its subsidiaries are commonly referred to as Fidelity or Fidelity Worldwide Investment. Fidelity only gives information about its products and services. Any person considering an investment should seek independent advice on the suitability or otherwise of the particular investment. Investment involves risks. Past performance is not indicative of future performance. Please refer to the relevant offering documents for further information including the risk factors. If investment returns are not denominated in HKD or USD, US/HK dollar based investors are exposed to exchange rate fluctuations. Fidelity, Fidelity Worldwide Investment, the Fidelity Worldwide Investment logo and F symbol are trademarks of FIL Limited. The material is issued by FIL Investment Management (Hong Kong) Limited and it has not been reviewed by the Securities and Futures Commission ("SFC").