As clients will know, we believe the most attractive asset allocation sector is funds focused on global blue chips paying attractive dividend yields.
Fidelity Global Dividend Fund is one such fund having returned an excellent ~55.1 per cent in the last 5 years, compared to a sector average of ~41.4 per cent. The Fund also pays a very healthy dividend yield of ~2.8 per cent per annum.
We have attached the KIID for this Fund. You will note that there are two different classes of shares, the type W class and the type A class share and both have a different annual management charge. The W class shares are usually reserved for institutional investors and have an annual management charge some ~0.8 per cent less than the A class shares. We can confirm that we have been able to gain access via our platform with the Bank of New York Mellon to the lower rate W class shares for our clients.
We are therefore adding this fund to our Platform Class of Funds which include the CF Woodford Equity Income Fund, Artemis Global Income Fund, Newton Asian Income Fund, Threadneedle Global Income Fund, Fidelity Sterling Core Plus Bond Fund, M&G Global Floating Rate High Yield Fund, L&G All Stocks Gilt Index Trust, UBS UK Income Focus Fund and UBS Global Growth Fund. These funds attract a Custody, Platform, Administration and Management fee of an extra 0.25 per cent per annum, resulting in a saving of ~0.5 per cent per annum.
We believe clients should consider investing any surplus cash balances and also switch capital invested in higher risk small capitalisation stocks into this Fund.
Should you wish to purchase units in this Fund please contact Simon Reeks on 0161 242 2891.
Midas Investment Management Limited