Fidelity International has opened up its Absolute Return Global Equity strategy to UK clients in response to demand for alternative sources of return and greater portfolio diversification.

The asset manager has launched a UK-domiciled version of the fund through an OEIC structure to offer UK investors easier access through domestic investment platforms.

The original Luxembourg-domiciled fund launched in 2020 and now has over $1.6bn in assets under management.

Matt Jones, Hiten Savani and Daniel Swift, will jointly manage the new fund supported by Fidelity's global research platform. The fund will have an OCF of 0.9%.

Dennis Pellerito, head of UK and 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. By combining the expertise of an experienced portfolio management team with Fidelity's global research platform, the fund is designed to help investors navigate market volatility by seeking consistent, uncorrelated returns across market cycles.”