Ashburton looks to Fidelity for multi-asset fund selection

Strategic partnership between firms

Ashburton Investments has entered into a strategic partnership with Fidelity International on management of its $850m multi-asset funds.

Jersey-based firm Ashburton will maintain responsibility for global macro views, tactical asset allocation and client distribution of the range while Fidelity's multi-asset team will provide advisory services on security and fund selection, as well as support the implementation of asset allocation decisions.  Strategic asset allocation will be driven jointly by both firms. The range consists of funds such as the Global Growth, Balanced and Global Flexible portfolios.  Fidelity shifts from buying third-party funds to segregated mandates on multi-asset funds Ashburton said it was ...