UK/EUROPE - Fidelity Investments has launched three new institutional pooled funds, the UK Multi-Manager, UK High Alpha and pan-European Funds, to meet what it believes is a gap in the market for small and medium sized pension plans.

Both the UK funds will be benchmarked against the FTSE All Share index, while the pan-European fund will take MSCI Europe as its reference index.

Introducing the new funds, Anna Roads, head of research and product development at Fidelity, comments: “Our research showed that there were gaps in the market and these new funds are designed to meet that demand. We now offer a complete range of pooled funds specifically designed to meet the needs of small and medium sized pension plans.”

Fidelity’s new UK multi-manager fund will offer clients a portfolio managed by a team, rather than by an individual fund manager. It represents an optimal combination of four of Fidelity’s UK equity managers.

The UK High Alpha fund is designed for investors looking for a higher risk/return strategy, while the pan-European fund is specifically designed to attract medium sized plans in Europe.