Fidelity International gained regulatory approval to launch the Fidelity Diversified Private Assets LTAF, accessing globally diversified private markets.
The LTAF will hold exposure to private equity, private credit, infrastructure, real estate, natural resources, and some public assets to allow for liquidity. Fidelity said the fund may serve as a “complement to a traditional public assets portfolio” and is suited for investors with long-term investment horizons.
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Henk-Jan Rikkerink, global head of solutions and multi asset for Fidelity, said: “Today, a number of clients are already asking to include private assets in their solutions, and we only expect this to grow over the coming years. In a world of challenged returns and reduced diversification from more traditional asset classes, clients are looking for a wider range of options to meet their long-term investment objectives.
“Our LTAF will aim to provide DC pension schemes with diversified exposure to private assets in a single, convenient vehicle. We believe that investing in private assets broadens the investment opportunity set and will improve the risk-adjusted returns and diversification characteristics of a portfolio over the long term.”
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